Macron's Gamble: France Faces Political Stalemate

French President Emmanuel Macron refused Prime Minister Gabriel Attal's resignation following chaotic election results, leaving the government in limbo. The split legislature, divided among the left, center, and far-right, failed to provide a majority. Macron's snap elections did not achieve the desired clarity ahead of the Paris Olympics.

French President Emmanuel Macron declined Prime Minister Gabriel Attal's resignation on Monday, asking him to remain temporarily in his role amid a political stalemate following chaotic election results.

French voters fragmented the legislature into left, center, and far-right factions, none of which secured the majority needed to form a government. This raises concerns of potential paralysis in Europe's second-largest economy.

Macron's attempt to achieve political clarity through snap elections backfired less than three weeks before the Paris Olympics, which will put France in the global spotlight. Despite market jitters, the main share index recovered after fearing a potential radical victory.

Attal had previously offered to stay on for the country's stability despite his disagreement with Macron's decision for surprise elections. Sunday's voting left no clear pathway for government formation for any major political faction.

(With inputs from agencies.)