FT Opinion today: The Macron bubble has finally burst

Early momentum has stalled and Mr Macron’s ‘quinquennat’ has been derailed by the gilets jaunes protests

Daniel Pudles, FT DECEMBER 11, 2018

In the first year or so of his presidency, Emmanuel Macron rarely took a misstep: he passed much needed reforms to France’s labour market and prevailed in a confrontation with powerful rail unions.

But, argues Gideon Rachman in his column this week, all that early momentum has stalled and Mr Macron’s quinquennat has been derailed by the gilets jaunes protests. The consequences of this, moreover, are not merely domestic: Mr Macron’s ambitious vision for reform of the EU depended, in part at least, on Germany being persuaded that he would succeed at home.

Before taking office, Mr Macron rejected idea that France was unreformable. He appears to be learning a hard lesson about the limits of presidential power in the Fifth Republic.

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