French President Emmanuel Macron has pledged to remain in office until the end of his term in 2027 despite the recent no-confidence vote that left France without a functioning government. Macron blamed his opponents on the far right for the resignation of Prime Minister Michel Barnier and announced plans to appoint a new prime minister within days.
Macron acknowledged his own responsibility for the chaos in French politics and emphasized the need to pass a budget law for 2025. The pressure is on for Macron to act swiftly in appointing a replacement capable of leading a minority government in a divided parliament.
The political instability has raised concerns about France’s economy, particularly regarding its debt, which may rise to 7% of GDP next year without significant reforms. Moody’s warned that the government’s fall could worsen the political gridlock and lead to higher interest rates.
Meanwhile, a teachers’ protest against budget cuts in education has taken on a political tone, with demonstrators linking their demands to the current crisis. Protesters expressed little hope that Macron’s next appointee would bring about positive change.
Despite calls for his resignation from opposition leaders, Macron has stood firm in his decision to remain in office until 2027 and has ruled out new legislative elections. The situation remains uncertain as France navigates through this period of political upheaval and economic challenges.
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