French Prime Minister François Bayrou Calls Confidence Vote Amid Financial Crisis
French Prime Minister François Bayrou announced during a press conference on Monday that he will call a confidence vote for his government on 8 September, citing the dire state of France’s public finances, reports 24brussels.
This unexpected announcement has caught both parliament and the public by surprise. Ahead of the confidence vote, calls for nationwide protests on 10 September have begun circulating on social media, gaining traction among left-wing parties.
In a bid to pre-empt potential unrest, Bayrou stated he would seek parliament’s confidence two days earlier, using the occasion to present his government’s policy agenda. He emphasized, “The country’s financial situation forces us to act in two stages,” underscoring the urgency of the matter.
While the specifics of the measures designed to address the escalating public deficit will be disclosed at a later date, the 8 September vote is anticipated to confirm a substantial reduction of nearly €44 billion in France’s deficit. This follows Bayrou’s unveiling of a stringent austerity plan in mid-July, which faced unanimous opposition from rival parties and trade unions, particularly regarding the removal of two public holidays.
Should he receive parliament’s backing, Bayrou assured that “everyone will contribute,” stating that the state and wealthier citizens will bear their fair share of the national effort. This statement aims to assuage discontent among the middle and working classes.
In two weeks, Members of Parliament will face a critical decision: “If you command a majority, the government stands. If you don’t, the government falls,” he reiterated, asserting that the greatest risk would be to “do nothing at all.”
Immediate reactions surfaced from opposition figures, including Mathilde Panot, leader of the hard-left France Unbowed (LFI) group, who welcomed this opportunity to potentially destabilize the government. She remarked, “Bayrou has chosen his own departure date,” reflecting a sense of disdain for the Prime Minister’s position. National Rally leader Jordan Bardella also criticized the government, declaring, “Bayrou has just announced the end of his government, crippled by its complacent inertia.”
The fate of the Prime Minister now depends largely on the Socialist Party (PS), whose abstention in the 8 September vote could be the only pathway to maintain the government. Socialist MP Arthur Delaporte expressed skepticism about Bayrou’s ability to adapt, stating, “We have a stubborn and arrogant prime minister, and I do not believe that this is likely to alter his fate.”
Bayrou maintained that the decision to risk his government’s survival was made “in agreement” with President Emmanuel Macron. The market’s response to the announcement was immediate, as the CAC 40 dropped by 1.5%, and yields on France’s 10-year debt increased to 2.23%, indicating investor anxiety.
