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Emmanuel Macron’s Versailles glitz masks a fading economic legacy

President’s promise to remake France as a ‘start-up nation’ foundered with crises, overspending and political paralysis

Emmanuel Macron was in his element on Monday as he used the splendour of the Versailles Palace to court global chief executives and present France as a country transformed by his pro-business reforms.

A slew of recent investment pledges, including one he negotiated directly with SoftBank boss Masayoshi Son to spend up to €75bn on AI data centres, did “not happen by chance”, Macron insisted. “It is the result of reforms, of hard work as well, of consistency, and of our collective commitment.”

But behind the glitz of his annual Choose France summit — and less than a year before a highly uncertain presidential election to succeed him — Macron’s economic legacy is under a microscope.

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