France plunges into political chaos causing anxiety about the euro zone’s second biggest economy.
Paris, Dec.4 (DPnet).– Vote of no confidence against PM Michel Barnier passes by 331 votes. At least 289 votes were needed for the no-confidence vote to pass. Mr Barnier will go down as the shortest-serving prime minister in French history after he was appointed by Emmanuel Macron in September following July’s snap election.
The French president is said to be keen to have a replacement appointed before Donald Trump attends the re-opening of the Notre Dame Cathedral in Paris on Saturday. But questions remain over whether MPs will back an alternative.
Macron is not done yet, but with his back against the wall, he will appeal to the public over the heads of their recently elected representatives. The President is, at heart, a Bonapartist: he believes that he, the savior of his people, understands the mystical heart of France better than any mere politician. However, Macron has run out of credibility, he has run out of allies, and he has run out of time.
At a time of deep international uncertainty, France is now without a government - the first in 60 years to be toppled - and without a budget. If not addressed, the current deficit of more than 6% of GDP risks further inflating France’s ballooning public debt of €3.2 trillion, which is becoming increasingly costly to finance.