France commemorated past military victories at the annual Bastille Day parade, while the country’s current political uncertainty loomed large. President Emmanuel Macron oversaw the parade as French and allied units marked the 80th anniversary of France’s World War II liberation. Despite the pomp and circumstance, France’s search for a stable government seemed at an impasse, with no clear majority emerging from recent snap elections.
With Macron unable to call for new elections, figures like Marine Le Pen and the newly formed New Popular Front are jockeying for position in anticipation of the 2027 presidential race. The absence of international guests and a smaller parade due to Olympic preparations highlighted the country’s leadership vacuum. Even as the Olympic torch arrived in Paris, the reduced parade underscored the country’s political drift.
The uncertainty in France, a major European economy and global power, raises concerns for both markets and allies. The country’s political stalemate poses challenges as it navigates through a period of transition.