French ex-premier pledges allegiance to Macron's movement

French ex-premier pledges allegiance to Macron's movement

French ex-premier pledges allegiance to Macron's movement

Macron won 66% of the vote in Sunday's presidential run-off against the far right's Marine Le Pen, the biggest win by a French president since Jacques Chirac's victory over Le Pen's father Jean-Marie in 2002.

Macron has said half of the candidates for his year-old Republique en Marche (Republic on the Move) for the 577 seats up for grabs in 11-18 June elections will be new to politics. Macron is the first president of modern France elected as an independent.

In a victory party on Sunday evening, Macron walked on to the stage to the strains of "Ode to Joy", the anthem of the EU.

Mr Macron has been portrayed as a candidate for the young and globalised, with his blend of centrist policies - which include reducing corporation tax and being pro-EU - in stark contrast to Le Pen, who advocates economic protectionism.

Macron's victory brings an end to a presidential contest labeled a rebuke of the political establishment.

This could give the National Front a significant increase on the two seats the party now holds. If he does, he would be able to pick the candidate of his choice to lead the government as prime minister.

European Council President Donald Tusk also congratulated Macron, saying the French have chosen "liberty, equality, and fraternity".

Macron wins French presidency but hurdles remain in campaign to governEmmanuel Macron steps into his new role as France's President-elect.

Some hailed Macron's defeat of far-right candidate Marine Le Pen as "three-nil" after moderate politicians also beat extremists in Austria and the Netherlands in recent elections.

Monday was a French national holiday marking decades of peace in Western Europe, something Macron made a cornerstone of his campaign against Le Pen's brand of nationalist populism. Hollande clasped the arms of his one-time economy minister as they attended a ceremony at Arc De Triomphe to commemo-rate victory in WWII.

But it took more than luck for the new French president to accomplish something that most students of French politics thought impossible: From scratch, he built his own political party of the center, En Marche! Le Pen favored ditching the euro and creating stricter business-protectionist measures and a large reduction in immigration.

Addressing her supporters in Paris, Le Pen said the country had "chosen continuity" and wished Macron "success in the face of the vast challenges facing France".

With parliamentary elections looming next month, Macron's triumph fueled power struggles between moderates and hardliners on the left, while leaders of the conservative The Republicans warned against defections to the president-elect's camp. After rising almost 3 percent over the past month, the Guggenheim CurrencyShares Euro Trust (NYSE: FXE) lost 0.6 percent Monday. Both numbers were the highest they have been since the middle of the last century.

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