French Prime Minister Michel Barnier has arrived at the Elysee Palace, where he is anticipated to resign following a vote by far-right and leftist politicians to dismantle his government, marking France’s second significant political crisis in six months.
Mr. Barnier, a seasoned politician who previously served as the European Union’s Brexit negotiator, will hold the record as the shortest-serving prime minister in contemporary French history. There has not been a confidence vote loss for a French government since Georges Pompidou in 1962.
The radical left and far right expressed their discontent towards Mr. Barnier for advancing an unpopular budget through a hung parliament without securing a vote. The proposed budget aimed for €60 billion in savings to address a substantial deficit.
Mr. Barnier’s resignation will conclude weeks of strain surrounding the budget, with Marine Le Pen’s far-right National Rally criticizing it as excessively punitive toward working individuals.
President Macron is facing increasing pressure to step down, yet he has a mandate that extends to 2027 and cannot be easily ousted. Nevertheless, the ongoing political crisis has diminished his standing.
Read More: Michel Barnier – France’s shortest-serving prime minister
France now risks concluding the year without a stable government or a budget for 2025, although the constitution permits special measures to prevent a government shutdown similar to that experienced in the U.S.
The political chaos in France will further destabilize an already struggling European Union, which is reeling from the collapse of Germany’s coalition government, just weeks before U.S. president-elect Donald Trump returns to the White House.
Mr. Trump is scheduled to visit Paris on Saturday for the unveiling of the renovated Notre Dame cathedral, and Mr. Macron is eager to appoint a new prime minister before that event.
Currently, France is entering a phase of deep political uncertainty, alarming investors in French sovereign bonds and equities. Earlier this week, France’s borrowing costs temporarily surpassed those of Greece, which is generally seen as a riskier proposition.
Any new prime minister will confront the same hurdles as Mr. Barnier in securing the passage of bills, including the budget for 2025, through a fragmented parliament.
A new parliamentary election cannot occur before July.
