France’s ‘Beautiful Dream’ Fades as Games Give Way to Political Crisis 

French President Emmanuel Macron gives thumbs up next to IOC president Thomas Bach (L) during the Closing Ceremony of the Paris 2024 Olympic Games at the Stade de France Stadium in Paris, France, 11 August 2024. (EPA)
French President Emmanuel Macron gives thumbs up next to IOC president Thomas Bach (L) during the Closing Ceremony of the Paris 2024 Olympic Games at the Stade de France Stadium in Paris, France, 11 August 2024. (EPA)
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France’s ‘Beautiful Dream’ Fades as Games Give Way to Political Crisis 

French President Emmanuel Macron gives thumbs up next to IOC president Thomas Bach (L) during the Closing Ceremony of the Paris 2024 Olympic Games at the Stade de France Stadium in Paris, France, 11 August 2024. (EPA)
French President Emmanuel Macron gives thumbs up next to IOC president Thomas Bach (L) during the Closing Ceremony of the Paris 2024 Olympic Games at the Stade de France Stadium in Paris, France, 11 August 2024. (EPA)

The Paris Olympics delivered a dazzling summertime success that charmed the world and reaffirmed French national pride. The hangover will be tough.

With Sunday's closing ceremony drawing a line under the sporting spectacle, President Emmanuel Macron must now deal with a self-created political crisis that he swept under the carpet until the Games were over.

Talks over government jobs and budget cuts loom - with voter anger sure to follow.

"Now we have to wake up from this beautiful dream," said Christine Frant, 64, at the Club France fan zone last weekend. "Such a shame we're going to return to our day-to-day routine, with no government, squabbles in parliament, while here it was all about joy, sharing."

Macron seemed to cast the entire fate of the Olympics into doubt when he called a snap legislative election just weeks before the Games were due to begin. Voters delivered a hung parliament.

Choosing a prime minister who can appease Macron's centrist camp, a leftist alliance and the far-right National Rally has proven tricky.

After days of political dealmaking that went nowhere after the July 7 vote, Macron declared a political truce for the duration of the Games, giving himself until around mid-August to name a prime minister and let political parties negotiate.

The mysterious sabotage on railway and telecoms targets at the start of the Games seemed like an ominous portent, but after that, the event carried on with no further security scares.

Macron decamped to his presidential retreat on the French Riviera, with a few incursions into Paris, including for a long hug with French judo titan Teddy Riner after he clinched his fourth career gold.

While many in France followed the tribulations of the Lebruns, two ping-pong-playing brothers, or cheered on star swimmer Leon Marchand, French politicians have been plotting a way out of the crisis.

Now, Macron will need to make a decision.

DECISION TIME

He has ignored the candidate painstakingly agreed on by the left-wing alliance, the New Popular Front, which came on top in the elections but has so far made no overtures to other parties to garner a majority.

Despite efforts to bolster her profile with media interviews, the chosen candidate Lucie Castets remains a political unknown.

"Who is she?" said Zahera Dakkar, 40, after watching the volleyball final at Club France. "I haven't followed politics for two weeks. The Games were an escape from all that."

Castets' hopes of the left taking Matignon, the prime minister's official residence, appear slim. Macron believes the vote delivered a National Assembly whose "center of gravity is in the center or the center-right," a source close to him said.

"We need a personality capable of talking to the center, the right and the left. From the socially-minded right to the left that care about law-and-order," said the source, who declined to be named to discuss the president's thinking.

Macron's eventual pick cannot appear to be a flunky, the source added, with an oppositional figure needed to give the government a "flavor of cohabitation".

Xavier Bertrand, a former conservative minister under ex-President Jacques Chirac who has had tough words against Macron but has collaborated constructively with his government in his northern region fiefdom, could be compatible, the source said.

Bernard Cazeneuve, a former prime minister under Socialist President Francois Hollande, who was in office at the time of the 2015 extremist attacks in Paris, could also work, the source said. Both men's offices did not return a Reuters request for comment.

BUDGET CHALLENGE

Whoever Macron names will face a tough job, with the parliamentary approval of the 2025 budget top of the in-tray at a time when France is under pressure from the European Commission and bond markets to reduce its deficit.

"If Macron tries to name a sort of rightist government, he will get no budget," said Eric Coquerel, the leftist head of the finance committee in parliament.

Macron's entourage is keen to use the Games, organized by a centrist president, a Socialist mayor and a conservative regional leader, as an example of what France can do when different sides come together.

His rivals want to make sure the president gets no credit, Senator Laure Darcos told Reuters.

Even if Macron's domestic fortunes remain bleak, the Games have bolstered his international standing.

Michael Payne, a former IOC marketing chief, said the president is seen from abroad as "the leader who delivered," but he believed Macron had made a major strategic mistake by calling the snap election before the Olympics rather than after.

At Club France, where families stood in line to take selfies with the Olympic torch or snapped up fluffy red mascots, it was hard to find anyone who wanted to talk politics.

"Please, no!" said Frant, a French flag around her neck.



Wars Top Global Risk as Davos Elite Gathers in Shadow of Fragmented World

A view of a logo during the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. (Reuters)
A view of a logo during the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. (Reuters)
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Wars Top Global Risk as Davos Elite Gathers in Shadow of Fragmented World

A view of a logo during the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. (Reuters)
A view of a logo during the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. (Reuters)

Armed conflict is the top risk in 2025, a World Economic Forum (WEF) survey released on Wednesday showed, a reminder of the deepening global fragmentation as government and business leaders attend an annual gathering in Davos next week.

Nearly one in four of the more than 900 experts surveyed across academia, business and policymaking ranked conflict, including wars and terrorism, as the most severe risk to economic growth for the year ahead.

Extreme weather, the no. 1 concern in 2024, was the second-ranked danger.

"In a world marked by deepening divides and cascading risks, global leaders have a choice: to foster collaboration and resilience, or face compounding instability," WEF Managing Director Mirek Dusek said in a statement accompanying the report.

"The stakes have never been higher."

The WEF gets underway on Jan. 20 and Donald Trump, who will be sworn in as the 47th president of the United States the same day and has promised to end the war in Ukraine, will address the meeting virtually on Jan. 23. Ukraine President Volodymyr Zelenskiy will attend the meeting and give a speech on Jan. 21, according to the WEF organizers.

Among other global leaders due to attend the meeting are European Commission President Ursula von der Leyen and China's Vice Premier Ding Xuexiang.

Syria, the "terrible humanitarian situation in Gaza" and the potential escalation of the conflict in the Middle East will be a focus at the gathering, according to WEF President and CEO Borge Brende.

Negotiators were hammering out the final details of a potential ceasefire in Gaza on Wednesday, following marathon talks in Qatar.

The threat of misinformation and disinformation was ranked as the most severe global risk over the next two years, according to the survey, the same ranking as in 2024.

Over a 10-year horizon environmental threats dominated experts' risk concerns, the survey showed. Extreme weather was the top longer-term global risk, followed by biodiversity loss, critical change to earth's systems and a shortage of natural resources.

Global temperatures last year exceeded 1.5 degrees Celsius (34.7 degrees Fahrenheit) above the pre-industrial era for the first time, bringing the world closer to breaching the pledge governments made under the 2015 Paris climate agreement.

A global risk is defined by the survey as a condition that would negatively affect a significant proportion of global GDP, population or natural resources. Experts were surveyed in September and October.

The majority of respondents, 64%, expect a multipolar, fragmented global order to persist.