France

Well, Europe is a glee with the latest election . At least the establishment. This guy Macron is very much a European and favors all the good stuff the EU seems to stand for; lots of spending, more bureaucracy, and less sovereignty .

Interestingly , he has no party at present and hence his great task will be to forge arrangements with the existing party structure so that he will be able to amend existing legislation and pass new legislation. No small feat. And with parliamentary elections coming up it will be interesting to see the party lineup when that is completed and hence how new alignments will be forged.

France desperately needs reform. A stubborn high unemployment rate and lack of competitiveness with its neighbours and the world are real challenges . So while the EU has dodged a bullet it remains unclear just how this President without a party will be able to change things substantially.

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