French Government Faces No-Confidence Vote Over Controversial Budget

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Source: Financial Times
French Government Faces No-Confidence Vote Over Controversial Budget
Photo: Financial Times
TL;DR Summary

French Prime Minister Michel Barnier faces a no-confidence vote after invoking article 49.3 to push through a controversial €60bn budget package without parliamentary approval. Opposition parties, including Marine Le Pen's far-right Rassemblement National and the far-left France Unbowed, have vowed to vote against Barnier's minority government. If the vote succeeds, Barnier would become the shortest-serving premier since 1958, and President Emmanuel Macron would need to appoint a new prime minister. The political turmoil has affected France's bond market and weakened the euro.

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