French President Emmanuel Macron is set to appoint a new prime minister within 48 hours amid ongoing political stalemate following the resignation of outgoing Prime Minister Sébastien Lecornu, with no clear consensus on forming a stable government or upcoming elections.
Outgoing French Prime Minister has indicated that President Emmanuel Macron may appoint a new Prime Minister within the next 48 hours, signaling a potential change in government leadership.
The Japanese yen fell sharply against the dollar and euro amid political uncertainty with Sanae Takaichi poised to become Japan's first female prime minister, leading to expectations of delayed BOJ rate hikes. Meanwhile, the euro declined after France's new prime minister resigned, adding to political instability in Europe. U.S. markets are also influenced by the lack of economic data and expectations of a rate cut by the Fed in October.
President Macron appointed Sébastien Lecornu as France's new Prime Minister to lead a minority government focused on tackling the country's rising public debt and securing political stability amid a hung parliament and upcoming protests.
French President Emmanuel Macron is considering appointing Lecornu as the new Prime Minister following the collapse of François Bayrou's government, as part of ongoing political adjustments in France.
French Prime Minister Gabriel Attal visited a cattle farm in the Haute-Garonne region to address farmers' protests, promising to prioritize the agricultural sector and dropping plans to reduce a key agricultural tax break. The government also announced measures to address rising diesel fuel costs, an emergency fund for cattle farmers, and simplifying administrative tasks for farmers. The protests, which included roadblocks and tractor convoys, were sparked by discontent over fuel hikes, green regulations, and EU directives, with farmers demanding concrete actions from the government.
Gabriel Attal, at 34, has become France’s youngest prime minister and the first openly gay leader of the government. Rising from a work experience recruit to the second-highest office of state in just over a decade, Attal's trajectory has been marked by his formidable communication skills and rapid political ascent through various high-profile positions. His background, political shifts, and civil partnership with MEP Stéphane Séjourné provide insight into his personal and professional journey, as he is expected to invigorate a government weakened by its lack of parliamentary majority and appeal to a younger generation of disillusioned voters.