The Center Holds
Emmanuel Macron was elected president of France on Sunday in a victory for a political newcomer who campaigned on promises to revamp France’s heavily regulated economy and fight a tide of nationalism sweeping the European Union. The 39-year-old former investment banker has vowed to undertake contentious changes to labor markets in France as part of a push for greater economic convergence among the EU’s fractious member states. At the core of his program are overhauls of France’s sluggish economy and the eurozone, with all its shortcomings. To get what he wants, he will first have to convince a skeptical Germany. Mr. Macron won 66.1% of the vote, surpassing pollsters’ predictions that he would win about 60%. Marine Le Pen, who ran on a plan to pull the country out of the euro and close its borders to migrants, took 33.9%. The euro briefly touched a seven-month high against the dollar after the results.