France's prime minister before removal: crisis deepens
France's prime minister before removal: crisis deepens
French MPs will vote on a request for no confidence on Wednesday, which is expected to overthrow the government of Prime Minister Michel Barnier. The country is fighting against a in -depth political crisis and a considerable budget deficit.
background of the distrust of no confidence
The application follows on Barnier’s attempt to do parts of the Budget"> enforce. This included measures to close the big hole in the public finances of France and to reconcile the deficit until the end of the decade.
The Finance Act provides tax increases and budget cuts worth 60 billion euros ($ 63 billion) with the aim of reducing the deficit to 5% in the coming year. Some of the measures encounter great rejection of the opposition parties, such as the delay of pension increases according to inflation. Barnier, who has only been in office as Prime Minister of a minority government supported by centrists and conservative, tried to adopt the household with a controversial constitutional mechanism that was avoided in parliament. However, this move opened up the possibility to submit the MEPs to submit motion of no -confidence - and the left opposition did just that. The right-wing extremist National Rally Party will also join the vote after no concessions from Barnier in relation to the Finance Act. If the propagation of no confidence is accepted, the country could plunge into a political chaos. Since 1962, no government has been overthrown by a request for no confidence, and Barnier would become the shortest prime minister of France in history. His cabinet would have to be appointed until the appointment of a new tour by the French President emmanuel macron The transition period remain. It remains unclear how a future prime minister can find support in the split political landscape in order not to be overthrown. The parliament is divided deep into three blocks: the central parties of Macron's party, the right -wing extremist block of Marine Le Pen and a left -wing coalition. This blockade has the problems of the budget considerably. On Monday, concerns about the effects of the political vertebral storm on public finances in France resulted in the government's credit costs briefly about the "noFollow" target = "_ blank" href = "https://www.cnn.com/videos/tv/2024/03/gps-0303-greeces-remarkable-turnaround.cnn"> Greece controversial measures for household consolidation
political dynamics and government crisis
consequences of a successful application for no confidence
outlook on an unstable political future
economic challenges and budget deficit
forecasts and credit assessment
The loan rating agency expects the budget deficit of France to reach 6.2% of GDP by the end of the year. This is more than twice as high as the limit of 3% defined by the EU regulations and one of the largest budget deficits among the euro countries. "France remains a balanced, open, wealthy and diversified economy with a deep domestic stock of private savings," said S&P Global Ratings in a message on Friday. However, it was added that the country's credit assessment could decrease if the government was "unable to reduce its great budget deficits" or if economic growth leads back behind the agency's expectations over a longer period of time.
cnn’s Saskya Vandoorne contributed to this report.
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