Ahead of his first anniversary as France's premier, Macron is facing rolling strikes by rail workers over a shake-up of the debt-ridden state-owned SNCF, student protests over higher education reform and escalating levels of discontent among pensioners over higher social security charges.
"I think there has never been such a fertile environment for reform. Macron knows this and I think trade unions know this," Antonio Barroso, managing director of Teneo Intelligence, told CNBC's "Squawk Box Europe" on Wednesday.
"In isolation, (trade union) actions do not create a considerable risk for Macron. Rather, the main problem would be the coalescence of different protests into a bigger movement against his policies, thus undermining his political capital to pass reforms in other areas such as pensions," he added.