“France faces an immediate dilemma: No Trust (vote) , no government, no budget,” the New York Times reported Wednesday, after French Prime Minister Bannier used article 49-3 of the constitution to force through parts of the 2025 draft budget through the National Assembly, in the face of a motion of no confidence between Syriza and the far-right NLD party. If he is forced to step down, it will be the shortest-lived government in the French Fifth Republic, according to the RFI website. Agence France-presse said the motion of no confidence could be held on the 4th. Some foreign media commented that the possibility of the collapse of the French government and worries about the failure to pass the draft 2025 budget by the end of the year have made financial markets nervous, which will raise France’s borrowing costs, it has further exacerbated the unrest since the national assembly elections this summer.
2, local time, French Prime Minister Bannier in the National Assembly address. On the same day, he forced through parts of the draft budget, triggering strong discontent from left-wing and far-right parties. Visual China
“There’s not much time left.”
France has one of the highest debt-to-economic-output ratios in the euro zone and a growing deficit, putting pressure on the French government, the New York Times reported Thursday. To that end, Banier took on the”Unwelcome task” of trying to cut the budget by 60 billion euros. Banier 2 forced through the social security bill related to this task, it is one of the French budget draft.
Article 49-3 of the French constitution gives the government the power to bypass the National Assembly and force entry. However, the National Assembly can also motion of no confidence the government under article 49-2 of the Constitution within 24 hours, and voting must take place within 48 hours. If the vote passes, the government steps down and the bill is vetoed. Maqueron, the French president, is then likely to ask the Banier government to remain a caretaker government, dealing with day-to-day matters, with the appointment of a new prime minister likely next year, Reuters said. Maqueron has been searching for a new prime minister by phone and meeting several times in recent days, the French Yogi Bear newspaper revealed on the 3rd. In the budget section, the Economist said the French government could extend measures in the 2024 budget until 2025 by using special provisions.
Barnier”Will almost certainly lose this vote” and”Unless something unexpected happens, France will again be without a government on Wednesday”, the BBC said Wednesday. The New York Times said Barnier and his cabinet “Don’t have much time now” and that if they were toppled this week it would be the first French government since 1962 to fall because of motion of no confidence. With only weeks to go before the December 21 deadline to finalise next year’s budget, France will be in”Uncharted” political, legal and economic territory. France could be plunged into a new political crisis, Agence France-presse said.
The New York Times said that many French people believe that, the motion of no confidence is a corollary to Maqueron’s early National Assembly elections this summer, which split the assembly into three main camps: the left-wing coalition “New People’s Front”, Maqueron’s ruling coalition “Together”, the National Union and some of its rightwing allies. Maqueron, who is visiting Saudi Arabia, is currently acting as a “Bystander” in the crisis, Agence France-presse said. Some say he should consider resigning to break the deadlock.
I don’t know what tomorrow will bring
His appointment by Mr Maqueron as Prime Minister in September has angered Syriza. Reuters said his government has so far relied on the support of the National League, but Tuesday’s events broke that fragile link. On the same day, Mr Banier said: “I don’t think the French will forgive us for putting our personal interests ahead of the future of the country.” A source close to Mr Banier said the prime minister had made”Significant concessions”. But Lepaon, who leads the NLD, told reporters that “Barnier doesn’t want to respond to our 11 million voters.”.
According to the New York Times, Banier’s government announced last week that it was abandoning plans to raise electricity taxes. On Tuesday, Barnier “Made another gesture” to Lepaon, promising that the government would not reduce drug reimbursements. These were seen as Barnier’s concessions, but not enough for the NLD. The latter’s demands also include raising pensions in line with the rate of inflation.
The New York Times described a “Chicken” between Barnier and Lepaon in recent days. Lepaon said he would motion of no confidence if Barnier did not agree to his budget demands. Bannier said that if the French did not pass a budget into the new year, then “There will be serious turmoil in the financial markets”. But Lepaon dismissed the warnings as fear-mongering and “Fake news”. Both the NLD and Syriza submitted motion of no confidence on Tuesday, Reuters reported. “The French have had enough,” says Lepaon, who makes matters worse. “In the face of countless denials of democracy, we will condemn the government,” said Panot, a member of Parliament for the leftist party unyielding France. The Euronews said Mr Pécresse, Île-de-France’s regional assembly president, criticised the left and far right for exacerbating “The turmoil in the economic and moral crisis we are experiencing”.
The New York Times says political instability has caused widespread anxiety. “We will have no budget, no government, and we don’t know what tomorrow will bring,” said French political scientist Charles Bacharan. The Yogi Bear quoted a ruling party MP as saying the country was in “An economic, political and institutional no man’s land” and faced high levels of uncertainty.
US media: Europe will also be affected
France’s”Cross” newspaper said the country may face a public sector as a result of reduced lending capacity and the resulting financial crisis risk. France Radio Internationale noted that French borrowing rates briefly surpassed those of Greece, a country that came close to bankruptcy during the eurozone debt crisis, for the first time last week. Le Cross said Harmant, the French economy, finance and Industry Minister, believed that if the French government failed, all sectors would fail and no company or Frenchman would be the winner. “If interest rates rise tomorrow, French savings will be affected, personal income tax will increase… who will bear the consequences? First, the French people,” he told French media.
Russia’s”Red Star” television said the situation in France will not lead to a catastrophic situation, but it is clear that it is on the brink of crisis. (CNN) — financial markets are worried about both fiscal discipline in the European Union’s second-largest economy and the political will to CNN it, according to CNN. France’s fiscal deficit is expected to be 6.1% of GDP this year, more than the commission allows.
Germany is also in”Election mode”, Reuters said, and if the current French government falls, there will be a”Hole” in the heart of Europe. The European edition of Politico says the European Union is facing political and economic turmoil-with Germany hit by a wave of mass unemployment, european leaders are struggling to cope with the re-election of Donald Trump. The rejection of Barnier’s budget would also have repercussions across Europe. Bloomberg says political turmoil in France is not helping the value of the single currency.
Since December, French society has entered the traditional Christmas”Winter break”, during which there are widespread calls to avoid political unrest, many in France are also concerned about big swings in the prices of necessities such as food and fuel this winter. ‘the country needs stability, ‘ said kulumis, a French internet user.