French Prime Minister Michel Barnier expected to resign amid political crisis in France

From Investing.com: 2024-12-05 01:41:07

French Prime Minister Michel Barnier is expected to resign after a confidence vote toppled his government, sparking France’s second major political crisis in six months. Barnier’s unpopular budget faced backlash from the hard left and far right, leading to his resignation. President Emmanuel Macron faces calls to resign amid growing political turmoil. France risks ending the year without a stable government or budget, impacting the EU and global markets.

Investors are unnerved by France’s deep political uncertainty, with borrowing costs briefly exceeding Greece’s this week. Any new prime minister will face challenges in passing bills through a divided parliament, including the 2025 budget. No new parliamentary election can be held before July. Trump’s visit to Paris for the Notre Dame cathedral unveiling adds pressure on Macron to name a new prime minister quickly.



Read more at Investing.com: Barnier expected to resign as France’s festering political crisis rumbles on By Reuters