In a historic move, Michel Barnier has become the first PM of France to be ousted in a no-confidence vote since 1962, sparked by a united effort from left and far-right parties. Barnier's use of special powers to pass his budget without a vote has led to his downfall, with opponents calling it "toxic" and "inevitable". As the political crisis unfolds, President Emmanuel Macron is set to address the nation, but with no clear resolution in sight, France faces uncertain and worrisome times.
The political tightrope that French Prime Minister Michel Barnier had been walking since his appointment in September has finally given way after he lost a no-confidence vote in the National Assembly. This result sees his government collapse, just two months after the country faced political uncertainty following inconclusive parliamentary elections. The 73-year-old former Brexit negotiator's decision to use special powers to adopt an unpopular budget without a final vote in parliament angered both the left-wing alliance New Popular Front and far-right National Rally, leading to his ousting by a vote of 331 out of 574. This development has caused concerns in the business and economic sectors, with bank stocks and government borrowing costs taking a hit in recent days.