French Government Faces No-Confidence Vote Amid Political Turmoil

1 min read
Source: CNBC
French Government Faces No-Confidence Vote Amid Political Turmoil
Photo: CNBC
TL;DR

French lawmakers are set to vote on no-confidence motions against Prime Minister Michel Barnier's government, which could lead to its collapse. The motions, filed by opposition parties, follow Barnier's controversial use of special powers to pass a budget bill without parliamentary approval. If the government falls, President Macron will need to appoint a new prime minister, but new elections cannot occur until next June. The political uncertainty is affecting French financial markets, with borrowing costs rising.

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