Barnier resigns, Macron scrambles for new French PM pick
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The news: French Prime Minister Michel Barnier resigned after his government was ousted by a no-confidence vote, supported by 331 lawmakers from an alliance of far-left and far-right parties.
President Emmanuel Macron met with allies and parliamentary leaders on Thursday, seeking to swiftly appoint a replacement.
The context: Weakened by the crisis and facing growing calls to resign, Macron must appoint a new prime minister to address France’s political gridlock and draft a 2025 budget.
Reuters sources said Macron wants to announce a new prime minister before Saturday’s reopening of Notre-Dame Cathedral, which US President-elect Donald Trump is expected to attend.
François Bayrou, a centrist ally, has been cited by French media as a potential successor.
With no new elections allowed before July, the next prime minister will need to navigate a fractured parliament and address the looming 2025 budget over which Barnier was ousted.
Macron is expected to address the nation at 8pm local time (7am AEDT), according to reports.
What they said: National Assembly President Yaël Braun-Pivet urged swift action to form a new government and resume budget talks. Meanwhile, Marine Le Pen, leader of the far-right National Rally, in an interview with Bloomberg expressed conditional optimism for a budget resolution within weeks, provided the next prime minister moderates deficit reduction efforts, she said.
French assets rallied after the vote, but uncertainty remains high. Credit rating agency Standard & Poor’s said the collapse of France’s government has left the country without a clear strategy for addressing its fiscal deficit, with reduced austerity measures now the most probable scenario.
The sources: The Financial Times, Reuters
