Political situation in France

Finance Minister: Confident that we will get a budget through on time

French Finance Minister Éric Lombard is confident that he, or his successor if the government falls next week, will get a budget through before the deadline expires at the end of the year. He says this in an interview with the Financial Times.

Prime Minister Francois Bayrou has himself called a vote of confidence on the budget, which is due to take place on Monday.

Lombard notes that he, or a successor, would not have to start from scratch when it comes to the budget. The market in France has been turbulent recently, partly as a result of the political unrest.

French distrust looks set to bring down the prime minister

French Prime Minister François Bayrou is facing a likely vote of confidence on Monday. At the same time, President Emmanuel Macron is said to be already looking for his replacement, reports the French newspaper Le Monde.

Bayrou himself has called the vote – which is unusual in France – after problems with getting criticized austerity measures through. It is said to be a massive criticism of the proposal to abolish two national holidays, writes Euronews.

The move is seen as an attempt to gain legitimacy for his policies by consolidating them in public opinion.

Analysis: French collapse imminent – ​​then Macron could resign

French politics is in an unusually paralyzed state, writes Politico's Clea Caulcutt in an analytical text. The situation is now said to be so extreme that President Emmanuel Macron's resignation is being openly debated in high-ranking political circles.

“Legislation is deadlocked, budget negotiations have stalled and social discontent is growing stronger,” she writes, noting that France could end up in an economic predicament of the same caliber as the one Greece suffered in 2008.

The reason is partly France’s large national debt and the lack of political consensus on how to repay the loans, writes James Sillars in an analysis in Sky News.

“The French government is on the brink of collapse – and could face a staggering debt crisis,” he writes.

Macron is now said to be looking for his fifth prime minister in less than two years, after major protests against incumbent Francois Bayrou’s proposals for austerity measures, including the abolition of national holidays.

The French want to see new elections to get things sorted out, but Macron has so far refused.