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Macron calls early election after far-right surge in EU vote

France faces its most fateful legislative vote in decades according to its finance minister. President Emmanuel Macron called a snap election following a bruising loss to the far-right in European Parliament elections.

Macron's shock decision amounts to a roll of the dice on his political future and that of France. It immediately sent the euro down, also hitting French stocks and government bonds.

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Supporters of the French far-right National Rally party react after the polls closed in Paris. REUTERS/Sarah Meyssonnier

Behind the news

Bureau Chief Richard Lough spoke to the Reuters World News podcast from Paris. He said: "At face value it's a huge gamble. Macron himself is a deeply unpopular president, and he lacks a working majority in Parliament as it is, which has throughout his second term made legislating difficult.

"There may, however, be a calculated risk here. He may have decided that he could have been forced into a snap election anyhow this autumn. The government has already faced several votes of no confidence tabled by opposition parties in past months, so Macron might be looking to seize the initiative, take everyone by surprise."

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