**Macron has publicly ruled out dissolving the National Assembly before the April-May 2027 presidential election**, citing risks of added instability, budget gridlock, and limiting the incoming president’s options under Article 12 rules that bar a new dissolution within one year of the prior snap vote. France’s fragmented legislature has produced repeated minority governments and narrow survival of no-confidence motions, with fiscal pressures and EU budget talks adding urgency ahead of the presidential contest. Polls show Marine Le Pen’s Rassemblement National leading for the presidency, while legislative forecasts indicate RN could approach but not guarantee a majority in any near-term vote. Traders therefore price limited near-term snap risk, focusing instead on post-2027 scenarios where the new president may dissolve strategically to secure a working majority, subject to constitutional timing constraints and coalition dynamics.