Amid a severe political crisis and complicated parliamentary balances, French President Emmanuel Macron appointed Minister of the Armed Forces Sébastien Lecornu as Prime Minister on Tuesday, succeeding François Bayrou, who resigned after losing a confidence vote in parliament.
Lecornu becomes the fifth Prime Minister under Macron in less than two years, reflecting the political turmoil France is experiencing. He faces the daunting challenge of passing next year’s budget amid a deeply divided parliament.
Economic pressures are forcefully impacting the new government, as Paris seeks to reduce a fiscal deficit that exceeds double the maximum allowed by European standards, alongside public debt equivalent to 114% of GDP.
In contrast, the opposition views the current crisis as an opportunity to reshape the political landscape; the Socialists have called for a greater role in power, while Marine Le Pen’s National Rally has emphasized the need to dissolve parliament and call for early elections, a move Macron currently rejects.
Financial markets received these developments with relative indifference, following the almost certain departure of Bayrou.
