the french president, emmanuel macron, has suffered a serious setback after losing his majority in parliament. his party, ensemble, is still the biggest in the national assembly, but it lost around 100 seats in yesterday s elections. there were big gains for marine le pen s far right party, and a new left wing alliance, led by the hard left leader, jean luc melenchon. this means issues such as macron s plans to raise the retirement age and changes to low income support could face more obstacles. joining me now is tomasz michalski, economics professor, at the business school, hec paris. professor, welcome. where does this result leave macron s mandate to govern the world s sixth largest economy? the first thing is the question is whether the party of macron will be able to make a coalition with the right wing party, that support them on the issue you just mentioned, raising the retirement age and various other reforms. if such a coalition cannot be, whether implicit or explici
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the sector 1 this is going to stop cost the sector1 billion in lost revenue so this is going to be very significant because the uk gdp is already contracted for two consecutive months so this impacts the economy and could push us closer to a potential contraction in the second quarter which raises the risk of a recession. quarter which raises the risk of a recession. how much of a turnoff do of a recession. how much of a turnoff do you of a recession. how much of a turnoff do you think of a recession. how much of a turnoff do you think strike - turnoff do you think strike action is for international investors looking at web test to place their money? where best. in to place their money? where best. , ., best. in the short term it would not best. in the short term it would not have best. in the short term it would not have a - best. in the short term it i would not have a significant impact but longer term investors will be thinking of how the economy can actually func