France: The pension reform puts politics under strain, but major instability unlikely
Assessment of the recent developments in France regarding the pension reform approval and the possible scenarios ahead with implications on French equities...
The fragmentation of votes into irreconcilable political blocs with no absolute majority creates a political situation unprecedented under the Fifth Republic.
The incumbent president’s re-election avoids an unpredictable political phase for France.
Update on the first round of the 2022 French Presidential elections
The French 2022 election cycle is starting in the context of the war in Ukraine which favours to the incumbent president.
The first half of Emmanuel Macron’s term (from H2 2017 to the Covid outbreak, in Q1 2020) featured a significant number of “structural” or “supply-side”...