No respite for re-elected Macron

PARIS, April 25 Reuters- French President Emmanuel Macron enjoyed no respite on Monday as, hours after he won re-election by defeating far right’s Marine Le Pen, political opponents called on voters to deny him a parliamentary majority.  

If he fails to score another victory in the June 12-19 parliamentary elections, the pro-European, centrist president will struggle to advance with his pro-business agenda, including unpopular plans to push back the retirement age.  
If lost, Macron would have to name a Prime Minister from another party, ushering a period of “cohabitation” during which presidential powers are severely curbed.  

During a cohabitation, the president remains the head of the armed forces and retains some foreign policy influence but the government has responsibility for most other day-to-day matters of state and policy.  
“The reality is there is more to the French election story than Macron’s win yesterday,” said Rabobank FX strategist Jane Foley.