Emmanuel Macron won this month's French presidential election on a promise to balance state intervention in the French economy and reforms intended to make it more competitive. His electoral platform included a promise to introduce public investment initiatives worth some 50 billion euros (roughly $56 billion) over the next five years, for example, but it also includes proposals to make labor laws more flexible and to cut public sector spending by 60 billion euros. The new president's ability to implement his agenda will hinge, in part, on the backing it receives in the French National Assembly. Parliamentary elections will take place in two rounds next month, on June 8 and June 15, and opinion polls suggest that Macron's En Marche! party is close to winning a majority of seats.