French Government Facing Collapse as It Tightens Belt Amidst Pile of Debt

Prime Minister Bayrou Requests Confidence Vote in Parliament Amid Opposition’s “No Confidence” Motion
France’s Political Unrest Causes 2% Market Drop as Macron Refuses Resignation Calls,
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French Prime Minister François Bayrou
[AFP Yonhap News; No resale or database use],
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, ‘(Paris = Yonhap News) Correspondent Song Jin-won = The French Prime Minister has cornered himself by requesting a parliamentary confidence vote to pass an austerity budget plan.’,
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, ‘The opposition, seeking grounds to bring down the government, is ready to vote no confidence, leading the French political sphere into chaos ahead of the budget session.’,
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, ‘Prime Minister François Bayrou emphasized the need for austerity measures during a press conference on the afternoon of the 25th (local time), stating that the state of the country’s finances can no longer be ignored.’,
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, “Last year’s public debt in France amounted to €3.3 trillion (approximately 5,200 trillion KRW), about 113% of the country’s GDP. Bayrou explained that the debt had been increasing by €12 million (approximately 18 billion KRW) every hour.”,
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, ‘Bayrou suggested that the French people do not yet grasp the seriousness of the situation and introduced the “government confidence vote” as a shock tactic to secure parliamentary backing for policy momentum amid strong public opposition to austerity measures.’,
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, “However, French media have criticized Bayrou’s confidence vote request as ‘suicidal’.”,
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, ‘With centrist forces in Parliament unable to secure an absolute majority, the strong opposition from both the left and right factions makes it difficult to pass the confidence vote.’,
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, ‘Opposition parties are determined to bring down the government at this opportunity.’,
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French Far-right Leader Marine Le Pen
[EPA Yonhap News; No resale or database use],
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, ‘Marine Le Pen, floor leader of the far-right National Rally (RN), stated on X (formerly Twitter) that “the public, aware of the seriousness of the situation, is rejecting the Prime Minister’s measures,” blaming the situation on “the parties of the system we’ve been fighting for years, including the left, right, and Macronists,” and vowed to vote against the government in the parliamentary vote on the 8th of next month.’,
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, ‘Like-minded politicians in the far-left France Unbowed (LFI), led by Jean-Luc Mélenchon, pointed fingers at President Emmanuel Macron, saying on Radio France Inter that “Prime Minister Bayrou is not responsible for the current situation—it is essential to find the ultimate cause.” Mélenchon, a presidential candidate from the far-left, described the “peaceful, democratic, and republican only solution” as the resignation of President Macron and announced plans to submit an impeachment proposal on the 23rd of next month. LFI had previously attempted to impeach President Macron last year, but it failed.’,
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, ‘The Green Party and the Communist Party, allied with LFI, also committed to voting no confidence against the government.’,
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, “Since the Bayrou government came into power last year, the leftist Socialist Party, which has been cooperative, has also shown signs of unrest.”,
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, ‘Olivier Faure, the head of the Socialist Party, told Le Monde on the 25th that “it is unimaginable for the Socialist Party to express confidence in the Prime Minister” and announced plans to vote against.’,
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, ‘Ministers are trying to persuade the opposition and the public until the last minute as the government faces collapse.’,
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, ‘Finance Minister Eric Lombard warned on France Inter on the 26th that without improving the fiscal situation, “there is a risk of IMF intervention,” and he noted that “they will continue to communicate with everyone in preparation for the 2026 budget.”‘,
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, ‘Minister of Foreign Affairs Jean-Noël Barrot praised Bayrou’s decision as an act of “courage and wisdom” in an interview with RTL, questioning if they would “pass a debt-laden France onto their children.” He warned that a parliamentary no-confidence vote could “throw the nation into instability and crisis.”‘,
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, “Political instability has triggered a drop in France’s CAC40 index, which fell by as much as 2% in the morning before closing with a 1.70% decline.”,
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, ‘President Macron, responding to the opposition’s no-confidence threat, urged political forces to “find a path to compromise and stability and play the part they should.” Macron made these remarks during an interview with Le Journal du Dimanche, emphasizing the need to avoid a political deadlock. Although the interview occurred before Bayrou’s press conference, it was released on the afternoon of the 26th.’,
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, ‘Addressing the opposition’s demands for his resignation, President Macron stated, “The presidency is about performing the elected duty and doing what one believes is right for the country,” adding, “This is what I have done from day one of my term and will continue until the last moment.”‘,
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