‘Huge political gamble': France's Macron calls for snap election his rival Le Pen could easily win

French President Emmanuel Macron has called for a snap national election following a surge in support for his far-right rivals. The right-wing National Rally party, led by Marine Le Pen, received around 31% of the vote in the recent European Parliament election, more than double the support garnered by Macron’s pro-European Renaissance Party and its allies. The decision to hold an election is seen as a high-stakes move and a significant political gamble. The move has caused uncertainty in French markets, with the CAC 40 index slumping 1.8% and French banks experiencing sharp declines in stock prices. Macron’s party currently holds 169 seats in the lower house of parliament, while the National Rally has 88 seats. Polls suggest that the National Rally could potentially win enough seats to gain a majority in parliament. Despite the risk, Macron hopes that by calling the election, he can demonstrate the shortcomings of his rivals and gain support in the long run. However, analysts warn that Macron may have called an election he could lose.