If his party loses in the snap election, Macron of France states that he will not resign.

• The snap election poses a risk for Macron, as although he would retain his presidency if his party loses, his domestic authority would be greatly reduced.
• On Sunday, Macron dissolved the French parliament and called for snap legislative elections in June after a defeat to right-wing parties in the European Parliament elections over the weekend.

On Wednesday, French President Emmanuel Macron declared that he would not resign if his party performs poorly in the upcoming parliamentary elections.

Macron denied the possibility of the event happening, calling the idea "absurd," and stated that he wanted to put an end to the discussion, according to French reporting translated by CNBC.

On Sunday, Macron announced the dissolution of the French parliament and scheduled snap legislative elections for later in June, after a poor performance in the European Parliament elections over the weekend, where right-wing parties made significant gains in France, Germany, and Austria.

Macron stated that he does not plan to campaign more than he did in 2017 and 2022 in the upcoming legislative elections, and he will delegate this task to French Prime Minister Gabriel Attal, along with the leaders of the majority who are present with him.

The snap election poses a risk for Macron, who has framed the contest as a battle between nationalism and demagoguery or liberal ideals and a robust, unified European Union.

The EU election results showed a decrease in voter enthusiasm, which analysts attribute to rising frustration over immigration, living costs, and crime.

"I cannot accept the current situation because, as someone who has always believed in a united, strong, and independent Europe benefiting France, it is difficult for me to reconcile," Macron stated on Sunday.

The National Rally (NR) party in France received 31.37% of the vote for the European Parliament, surpassing the 14.6% obtained by Macron's Renaissance party.

If Macron's party loses the snap elections in France later this month, he will still remain president, but will have to appoint a new prime minister from that party, significantly reducing his control over domestic affairs.

It seems that Macron's decision may be a strategic risk, as he hopes that the French public vote will differ from the European Parliament vote or that the threat of a far-right victory will motivate centrists to vote against the NR gaining more influence.

Some people speculate that Macron believes that, even if the NR wins, the French public will be dissatisfied with their leadership before the 2027 presidential elections.

The president's approach has been criticized as arrogant, ego-driven, and reckless, causing outrage among members of his own party.

In his national address, Macron stated that he had "listened" to the electorate's concerns and would "not ignore them ... France requires a unified government to act with tranquility and unity."

The first round of voting will occur on June 30, followed by a second round on July 7.

— CNBC's Holly Ellyatt contributed to this report.