Unlock Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favorite stories in this weekly newsletter.

French President Emmanuel Macron says he takes responsibility for the political divisions caused by his decision to hold snap parliamentary elections in the summer, saying the move has created “greater instability -on than peace”.

“I must acknowledge tonight that the dissolution, at the moment, brings more division to the Assembly than solutions for the French people,” he said in an annual speech in the new year. “I fully acknowledge that.”

The address, Macron’s eighth as president, capped a year in which his political influence was severely weakened by June’s collapse, which gave power to the far-right Rassemblement National and left France’s parliament divided into three parties. block.

After a disappointing performance for his candidates in the central European elections at the beginning of June, Macron France was surprised by the dissolution of the parliament, saying that the country needs a “period of clarification” to respond to the rise of the RN in the European elections.

But subsequent elections produced a decisive rejection of his centrist, pro-business agenda and made RN France the largest party in a fractured parliament.

Macron appointed conservative politician and former Brexit negotiator Michel Barnier as prime minister in September. However, he fell in a no-confidence motion last month after failing to rally support from the left and far right for a budget designed to cut France’s deficit, which has grown to over to 6 percent by 2024.

Macron appointed his ally François Bayrou as prime minister. Calling on politicians to compromise on 2025, he suggested he might also ask French voters to vote again next year.

“I will also ask you to decide on some important issues, because each of you has a role to play,” he said in comments that many commentators said suggested potential referendums on 2025.

Macron also discussed the foreign policy challenges for France next year.

Following the re-election of Donald Trump as US president, who called for more defense spending by Nato allies, Macron said, “Europe can no longer delegate its security and defense to other powers, ” repeating his calls for more European defense spending.

He also called on Europe to “simplify its rules” to encourage more investment from business.

But the address is unlikely to change views of Macron among voters. His popularity has fallen to a record low this year, with only 21 percent of people having confidence in his ability to deal with France’s problems, in a poll by Elabe in December.

His far-right rival Marine Le Pen said in her own New Year’s message on Tuesday that “delayed regrets or frivolous requests from a head of state are absolutely being discredited will not change anything”.

While she did not openly call for Macron to hold early presidential elections before the next vote scheduled for 2027, Le Pen said that 2025 is a “decisive year”, adding that only France can resolve its problems through a “democratic decision”.