NAB Morning Call

Friday 21st June 2024Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.Markets reacted rather swiftly to the news that President Macron had called a snap election for France, just after his own party had been heavily beaten in the European elections by Marine Le Pen’s Front National. This week Phil talks to Anne Bucher, from Bruegel, an independent European economic think tank. Anne is a former Director-General in the European Commission until October 2020 – in fact, she joined the commission in 1983 working across a wide variety of policy areas over may years. She has an innate knowledge of European politics.So, how does she see the French situation play out? Can we expect the more extreme elements of the Front National agenda to be watered down? Has the UK’s Liz Truss moment served as a warning bell for any party promoting higher debt?Whilst we can expect some compromise, Anne says the big casualty will be progress.