French political parties were rushing to try and find potential new alliances on Tuesday ahead of a snap election which opinion polls show Marine Le Pen's far-right party is likely to win.
The euro dropped as did French stocks and bonds after President Emmanuel Macron announced the lower house of parliament election for June 30 and July 7 following a massive loss for his camp in a European Parliament ballot on Sunday.
Le Pen's National Rally (RN) topped the first poll issued on Monday, although it said the party would fall short of an absolute majority of votes.
If no single party wins an absolute majority, the leading party could try and strike an alliance with others, which RN already working on.
But mainstream parties could try and unite against it.
Edouard Philippe, a former prime minister for Macron, called on moderate forces, ranging from Socialists to conservatives, to join together.
"We have to accept the idea we need to work with others", Philippe told RTL radio. "Let's together build something in the country's interest".
But a decades-old consensus in France's political establishment to join forces to keep the far right from the gates of power, once rock-solid but already weakened over the past years, appeared increasingly fragile.
"Never with us!," Eric Ciotti, the head of the conservative Les Republicains (LR), said on X in response to Philippe's comments.
RN president Jordan Bardella, who has already said he is trying to poach LR members and could back some in the election, jumped on the occasion.
"I'm calling on the Republicans to stop being Emmanuel Macron's political crutch", he said on RTL radio. "If you have convictions, if you love your country ... come and work alongside us."
French parties rush to seek alliances ahead of snap election
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