PARIS — Emmanuel Macron’s terrible, horrible, no good, very bad week began with his far-right rival taking a flamethrower to a pillar of French democracy, and ended seven days later with his country’s main stock index plunging deep into the red. Marine Le Pen's recent legal troubles and Donald Trump's market-wrecking tariffs are just the latest challenges threatening to upend the French president’s second term.
As the week started, Le Pen was handed a partly suspended jail term, a €100,000 fine, and an immediate ban on participating in elections for five years. This ruling stemmed from her conviction for a scheme where the EU parliament paid assistants who were actually working for her party, with the court ruling that she was at the "heart" of the embezzlement of public funds. In total, 24 individuals, alongside her Rassemblement National party, have faced convictions related to this case.
Le Pen’s conviction has sparked a fierce backlash from her supporters. At a gathering in Paris on Sunday, April 6, 2025, she claimed that the far-right is the target of a "witch hunt." Her top lieutenant and party president, Jordan Bardella, 29, criticized the judiciary, calling it the "tyranny of judges," while also asserting that the party does not wish to discredit all judges. Meanwhile, former justice minister Nicole Belloubet condemned such attacks on the French justice system, declaring them a frontal assault on the judiciary that undermines the rule of law.
In a chilling development, a man was detained after posting a death threat against the judge involved in Le Pen’s case on X (formerly Twitter), including a photograph of a guillotine. The head judge, Benedicte de Perthuis, an expert in financial crime, is now under police protection due to threats received following the ruling.
As the week progressed, the economic landscape worsened for Macron. The French stock index experienced a significant downturn, compounded by the ongoing trade tensions with the United States. Donald Trump’s tariffs have created a ripple effect in the market, further complicating Macron’s efforts to stabilize the economy.
France's budget deficit remains stubbornly high, with little prospect of reduction without painful spending cuts or tax hikes that could stifle growth. The political climate is equally fractured, with Macron facing increasing opposition from far-right lawmakers who have threatened to bring down his government. This turmoil marks the potential for a change in leadership, as François Bayrou, the country’s fourth prime minister in the last 18 months, might soon be on his way out.
The Paris Court of Appeal is set to examine Le Pen's case, which could potentially allow her to run in the 2027 elections if her conviction is overturned or her sentence altered. The political stakes are high, and the outcome of this case could significantly impact the future of French politics.
Amidst this chaos, Macron's administration is grappling with the fallout from both domestic and international pressures. The combination of Le Pen's legal battles and the economic ramifications of Trump's tariffs presents a daunting challenge for the French president as he navigates through one of the most tumultuous periods of his presidency.
As Macron seeks to maintain stability, the fractures within parliament and the looming threat of a far-right resurgence underscore the precarious nature of his second term. With the political landscape shifting rapidly, the coming months will be crucial in determining whether Macron can regain control or if France will witness a significant pivot in its political trajectory.
In conclusion, the intertwining of Le Pen's legal issues, economic instability, and the fracturing of parliament creates a perfect storm for Macron. As he faces these challenges head-on, the implications for French democracy and governance remain to be seen.
