France’s Prime Minister, Michel Barnier, is facing a no-confidence vote that could topple him and his cabinet, leaving the country without a functioning government or budget. The lower house of Parliament has filed two no-confidence motions against Mr. Barnier, with one expected to succeed due to the opposition’s narrow majority.
While France’s Constitution offers several scenarios for maintaining order in the event of a no-confidence vote, investors are already selling off French stocks and bonds, raising borrowing costs. A successful no-confidence motion would force Mr. Barnier to resign, and his government would enter caretaker mode.
Under the current circumstances, France would not have a functioning government or budget by the new year. The opposition has refused to support a no-confidence motion sponsored by the far-right National Rally party, making it likely that the left-wing New Popular Front motion will succeed.
French President Emmanuel Macron’s stature is expected to be diminished if his government falls, but he remains constitutionally protected until 2027. However, Mr. Macron may face calls for resignation from politicians on both sides of the aisle.
Source: https://www.nytimes.com/article/france-no-confidence-vote-barnier.html