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Macron Faces Political Test Over French Central Bank Nomination

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French President Emmanuel Macron is facing a major political challenge as lawmakers prepare to vote on his nomination of former chief of staff Emmanuel Moulin to lead the Bank of France. Critics argue the move is part of Macron’s effort to place trusted allies in key institutions ahead of the 2027 presidential election, where the far-right National Rally is expected to be a major contender.

The parliamentary vote is considered a key test of Macron’s influence as his presidency enters its final phase without a clear majority in parliament. Opposition lawmakers from both the left and right have questioned whether Moulin can remain politically independent after serving closely under Macron. However, supporters say Moulin is one of France’s most experienced economic policymakers and well-qualified for the central bank role.

If rejected, the nomination would mark an embarrassing setback for Macron and strengthen claims that his political power is weakening before the next election. The Senate vote is expected to be decisive, with conservative lawmakers divided over whether to back Moulin or oppose another Macron ally taking a powerful institutional position.

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French Businesses Engage Far Right Ahead Of 2027 Vote

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France’s corporate elite is increasingly engaging with Marine Le Pen and her National Rally as the party gains momentum ahead of the 2027 presidential election. A recent dinner in Paris with top executives, including Bernard Arnault, highlighted growing efforts by business leaders to better understand—and potentially influence—the party’s economic agenda.

The meeting exposed clear divisions, particularly over Le Pen’s eurosceptic stance and her plans to reverse pension reforms. While she presented herself as pro-business, executives reportedly found her policy proposals lacking in detail, especially on trade and taxation. Despite past reluctance, major companies now see engagement as necessary given the party’s rising electoral prospects.

Business groups, including Medef, say dialogue does not imply support but reflects a need to prepare for possible political change. However, some executives warn that engaging with the far right risks legitimising a party whose economic plans remain unclear. Both sides appear to be testing boundaries, as companies seek to shape policy while the National Rally works to reassure markets.

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Italy’s Bonus-Seat Reform Could Hand Meloni Strong Majority

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A proposed reform of Italy’s electoral system could significantly boost Prime Minister Giorgia Meloni’s chances of securing a second term, according to new studies. The ruling centre-right coalition has agreed to shift to a fully proportional voting system that includes a seat bonus for any coalition winning more than 40% of the vote. The measure, which still requires parliamentary approval, is designed to ensure governing stability but has drawn sharp criticism from the opposition.

Analysis by polling firm YouTrend suggests that under the current mixed system, neither the centre-right nor the left would likely win an outright majority, raising the prospect of a hung parliament. However, under the proposed rules, Meloni’s Brothers of Italy party and its allies — the League and Forza Italia — would secure a clear majority. The winning coalition would receive a 70-seat bonus in the 400-member lower house and 35 extra seats in the 200-member Senate, capped at 60% of total seats.

The opposition Democratic Party has denounced the reform as an attempt to tilt the system in favour of the government, while Meloni’s allies argue it would prevent political gridlock after the 2027 election. A separate poll indicated the centre-right currently leads by about four percentage points, enough under the new rules to translate a narrow vote advantage into a commanding parliamentary majority.

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