French Film and TV Business Braces for Fallout as Possibility of Far-Right Wins Loom in Upcoming Elections
variety.comElsa Keslassy International Correspondent The historic gains of the French far-right party Rassemblement National (National Rally, or RN) during the European elections on June 9 and French President Emmanuel Macron‘s shock decision to dissolve the National Assembly have not only propelled the country’s film and TV industry into a state of panic but are causing ripples across the economy.
Boasting the second-biggest economy in Europe, France saw its stock exchange take a hit this week amid talks that Marine Le Pen‘s far-right party had a solid chance of performing strongly in the parliamentary elections set for June 30 and July 7.
The three biggest banks in France, BNP Paribas, Credit Agricole and Societe Generale, have lost between 12-16% in value this week, according to Reuters.
In addition to bank stocks that have slumped, concerns about the country’s political crisis have also driven the biggest weekly jump in investor demand for government bonds since 2011, amid the euro debt crisis, per Reuters.
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