Earlier on Monday, Prime Minister François Bayur resigned, and Macron accepted. Bayur was forced to step down after nine months in office, in large part because of his failure to deliver on promises to control the deficit and other economic challenges. Lecornu, known for his toughness, is the only minister to remain in office since Macron began his term in 2017. He will now have to try to strike deals with the left while holding the government on course amid rising tensions.
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The French economy is experiencing volatility, with government bond yields soaring and a possible sovereign rating downgrade adding to pressure on financial stability. With political uncertainty and protests planned for Wednesday and September 18, Lecornu’s cabinet will have to find a balance between demanding taxes on wealth and maintaining business competitiveness – a challenge that politicians from different parties have previously tried to achieve without lasting success.
With the crisis still ongoing, many in the country believe that new elections are possible. Polls suggest that the right-wing United National Fleet’s huge surge in support in the elections could lead to a political realignment and further political uncertainty. At the same time, there is a desire on both the left and the right to compromise to avoid a repeat of the parliamentary blockade and maintain economic stability.
This is an ongoing story, the situation in the country remains tense and the coming weeks will be critical in determining the direction of economic policy and the nature of the interaction between the branches of government.
