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Marketplace All-in-One

How France’s election shock could shake up its economy

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 8 July 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

From the BBC World Service: France is facing political gridlock after a left-wing alliance emerged as the surprise winner of France’s snap election. The coalition secured the most seats but no outright majority. Also on the program: Trust in Lebanon’s financial system is at an all-time low, after a banking collapse and hyperinflation. Plus, Samsung is experiencing its first-ever strike in South Korea the over pay and holidays.

Transcript

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0:00.0

How our French election shock could shake up the country's economy.

0:05.0

Hello, I'm Leanna Byrne and this is the Marketplace Morning Report and we are coming to you live from the BBC World Service.

0:11.0

This morning, Europe's second largest economy, France,

0:15.1

awoke to an unexpected result in the second round of its general election.

0:19.6

That was the reaction of activists in a Paris youth center after projections

0:28.2

showed the far-right national rally had failed to win a majority.

0:32.2

It had been the largest party after first round

0:34.4

voting but today the left-wing coalition the new popular front has most seats

0:39.5

while President Macron's Center Alliance came second.

0:42.8

Here's the reaction from voters in the city of Lyon.

0:46.0

I'm very happy that the right didn't win because it was really dangerous for us.

0:51.6

It's not the end, because there is a lot of people who vote right.

0:57.0

Since right now the left seems to be a bit ahead. I'm kind hopeful.

1:04.4

Left wing and centrist candidates had agreed a tactical voting pack to push national rally into third place.

1:11.4

Its leader Jordan Baldel called it an alliance of dishonor that kept his party from power.

1:17.0

Tonight I say this very seriously, depriving millions of French people from the

1:24.3

possibility will never be a viable destiny for France. Now no one political

1:32.0

block has enough seats to form a government so what's next and that's ask the BBC's Chris Bachman in Toulouse hello

1:38.8

Good morning to you Chris the last time we were speaking about this election on this program the far right

1:44.3

national rallies party seemed to be doing really well what changed and how did it

1:48.8

change I wonder if in the space of a week a lot of people got cold feet. The far right

1:55.0

seems to have made some very big mistakes in the past week. One of them was when

...

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