Vote of no confidence threatens: Barnier on the abyss of politics!

Vote of no confidence threatens: Barnier on the abyss of politics!

In France, Prime Minister Michel Barnier is threatened with the political. The right -wing extremist party racial nationally (marginal), led by Marine Le Pen, has announced that it may agree to a request for no confidence against Barnier, unless "a miracle at the last minute". This made the chairman of the RN, Jordan Bardella, clear in an interview with RTL. Barnier is under pressure because he leads a minority government that rely on the support of other parties to secure majorities in parliament.

The political tension could escalate on Monday if Barnier has to use his constitutional powers to enforce a law to finance social security. Such a procedure would most likely trigger a vote of no confidence, as reported The press . Barnier has to close a household hole of 60 billion euros, which is even more difficult by rejection of the RN to make corresponding concessions. Le Pen had set a period until Monday to reach the required adjustments. Otherwise, the government of the fall threatens what could destabilize the political landscape of France.

Financial unrest in sight

The market reactions on political turbulence already show concern. According to ZEIT ONLINE , French government bonds have recorded the highest risk surcharge compared to German bonds since the euro crisis in 2012. In addition, according to the rating agency S&P, "AA-" remains the creditworthiness of France, but there is a risk of downgrading, should the government be unable to reduce the high budget deficits or to keep economic growth stable. Barnier remains open to discussions, but the rejecting attitude of the RN for its savings will further exacerbates the situation.