French lawmakers pass no-confidence vote, sack prime minister and deepen economic uncertainty

France’s right-wing and left-leaning lawmakers joined forces to vote Wednesday on a no-confidence motion sparked by budget disputes that forced Prime Minister Michel Barnier to resign.

The National Assembly approved the proposal with 331 votes. At least 288 were needed.

President Emmanuel Macron has insisted that he will serve his entire term until 2027. However, you will need to appoint a new prime minister a second time after that. July legislative elections resulted in a divided parliament.

Macron had turned to Barnier in September to curb the trend and tackle France’s growing deficit. Yet Barnier’s proposed austerity budget – cutting 40 billion euros ($42 billion) in spending and raising taxes by 20 billion euros – has widened the divide, fueling backroom tensions and fueling the political conflict. which is amazing.

Barnier on Monday invoked a rare constitutional mechanism to pass the controversial 2025 budget without parliamentary approval, saying it was important to maintain “stability” amid deep political divisions.

The use of a constitutional instrument, called Article 49.3, allows the government to pass laws without a parliamentary vote but leaves it vulnerable to motions of no confidence. Opposition leaders say Barnier’s concessions, including the repeal of the electricity tax, do not go far enough to address their problems. Far-right leader Marine Le Pen accused Barnier of ignoring her party’s demands.

“Everyone has to carry their own burdens,” he said.

Political discord has shaky financial markets, as borrowing costs rise sharply amid fears of long-term instability. Barnier warned of “massive upheaval” if the budget is not passed, but critics dismissed his comments as fear-mongering.