France’s perfect storm: Olympics strains and election jitters
FRANCE-The decision by French President Emmanuel Macron to call for an early election last week backfired when it appeared that the far-right National Rally party would win handily.
Can France handle the double pressure?
Though it did not secure a majority, most French pollsters predicted significant victories for the Marine Le Pen-led party, which has long been linked to racism, anti-immigration, and anti-European agendas. When Macron originally declared the election, investors expected stalemate and market disruption, which caused financial stock values in France to decline. They did, however, recover earlier this week when pollsters started releasing the findings. Analysts continue to forecast that France’s finances will be in disarray for some time to come. Investors may become even more alarmed by a number of possible outcomes, such as a hung parliament, in which no party holds a majority, and a rollback of Macron’s initiatives, such as reducing France’s retirement age.
That can cause issues for the fashion sector. In addition to being home to several of the world’s most well-known fashion labels, notably LVMH, one of the most valuable corporations in the world, the French market attracts interest from international businesses. The disarray surrounding the early election coincides with another pivotal event for the French economy: the Olympics. Over 7 million visitors are expected to visit Paris during the games, which are scheduled to start on July 26 and last until mid-August. Like hundreds of other fashion firms, LVMH has teamed with the Olympics in an attempt to take advantage of the billion-dollar advertising opportunity.
Will the Olympics overshadow the election?
This past week saw the opening of a new flagship shop in Paris by the American firm L’Agence, whose name was selected to represent the refinement of French fashion. L’Agence plans to use the 1,400-square-foot store as a launching pad to expand its clientele in France and get better access to the European market.
However, the host nations also experience stress and disturbance from the Olympics, as seen by the millions of dollars they spend on the infrastructure required to accommodate the millions of visitors. For instance, millions of additional riders would put France’s outdated public transportation infrastructure to the test during the Olympics, and it has already been identified as a possible weak spot.
Even while France is still the global center of fashion, it is obvious that, given the Olympics and the unrest in its political system, international and domestic fashion firms need to brace themselves for an uncertain future. Following the upheaval of the snap election, the French government is planning to send out 30,000 police as a genuine sense of terror spreads throughout the nation and neighboring European countries. Germany, one of the leaders of the European Union, has expressed worry that problems with French-German diplomacy may arise from the strain of a fragmented France.
How will the election impact the Olympics?
According to frontsight, Concerns over Russia’s continued conflict in Ukraine are causing surrounding Europe to get alarmed, and this is directly related to the decision to strengthen military relations between France, Germany, and Poland. This decision was made immediately after the internal political crisis in France and Germany. With a commanding victory in the first round of France’s parliamentary elections, this vote has sparked political unrest and called into question the centrist leadership of President Emmanuel Macron.
French demonstrators have gone to the streets in large-scale, disorderly demonstrations as Le Pen has gained traction. Le Monde stated that there have been reported attacks and demands for people to “take up guns” if the far-right party is to win. As per france24, Following the centrist president’s incredibly dismal performance in the European Parliament election, Hidalgo made the unexpected revelation, stating that the president “could not continue as before”.
The president’s domestic political adversary, the 64-year-old Socialist, continued, “But all the same, a dissolution just before the Games, it’s really something that is extremely unsettling,” while touring a school in Paris. With the Paris Olympics scheduled to start less than three weeks later on July 26, two rounds of legislative elections have been scheduled for June 30 and July 7.
Call to action: Boycott Pairs Olympics 2024
The Olympics event is around very close now so the security system is still not working perfectly. On these behaviors this event should be boycotted. Fans and the public are threatened due to the election campaign. Then how could the event be safe now?
