France found itself mired in yet another crisis on Tuesday, after prime minister Francois Bayrou’s gamble to secure backing for his deeply unpopular debt-reduction plan backfired, plunging the country deeper into political and financial instability.
French markets tumbled after Mr Bayrou jolted the political establishment out of its summer slumber on Monday with his unexpected move to seek a September 8th confidence vote on his debt-cutting plan. His proposal was roundly rejected by opposition parties, who said they would relish the opportunity to cut short his minority government’s time in office.
In a symbolic moment that underlined his predicament, Mr Bayrou tripped and nearly went flying as he took to the stage on Tuesday to deliver his first comments since the previous night’s announcement. He said politicians must now choose between “chaos” and “responsibility” and urged the French to pressure their representatives to make a prudent choice in advance of September 8th.
“I am not asking anyone to change his mind, but one can think it over,” said Mr Bayrou.
If Mr Bayrou falls, French president Emmanuel Macron could dissolve parliament and hold fresh legislative elections – a move he has previously rejected – or install a new government. However, neither course of action is likely to solve France’s budget issues or political gridlock.
Interior minister Bruno Retailleau, who leads the conservative Republicans, said it would be “irresponsible” and “against France’s interests” to vote for the government to fall.
Others disagreed.
The far-right National Rally, led by Marine Le Pen, said it wants Mr Macron to call a snap parliamentary election.
“I don’t see what new prime minister wouldn’t be immediately censured,” said a source close to Ms Le Pen.
The Socialists, whose vote will be crucial, also said they would vote against Mr Bayrou.
“We need a different prime minister and, above all, a different policy,” lead Socialist politician Boris Vallaud wrote on X. – Reuters
(c) Copyright Thomson Reuters 2025
