Hol
Well-known
And just like that, Europe is gripped by another political crisis (but... but... the euro is soaring) after French Prime Minister Francois Bayrou called a confidence vote that may topple France’s government as soon as September 8, prompting a selloff in French assets as investors hedged for more political uncertainty.
The conservative National Rally party, the leftist France Unbowed and the Greens all said they would vote against the Sept. 8 motion while even the Socialists - so pretty much the entire political spectrum in France - said they wouldn’t back the government. If a majority of lawmakers vote against Bayrou, which now appears to be the case, he’ll be forced to submit his government’s resignation. This would be overdue for a government which should have been bounced long ago.
The failure of another French government — the previous prime minister, Michel Barnier, lasted only 90 days — would underscore the tenuous position of President Emmanuel Macron, whose party and its allies lost any semblance of a parliamentary majority in 2024. Marine Le Pen’s National Rally, which became the largest party in the lower house in that vote, is calling for a new election.
www.zerohedge.com
The conservative National Rally party, the leftist France Unbowed and the Greens all said they would vote against the Sept. 8 motion while even the Socialists - so pretty much the entire political spectrum in France - said they wouldn’t back the government. If a majority of lawmakers vote against Bayrou, which now appears to be the case, he’ll be forced to submit his government’s resignation. This would be overdue for a government which should have been bounced long ago.
The failure of another French government — the previous prime minister, Michel Barnier, lasted only 90 days — would underscore the tenuous position of President Emmanuel Macron, whose party and its allies lost any semblance of a parliamentary majority in 2024. Marine Le Pen’s National Rally, which became the largest party in the lower house in that vote, is calling for a new election.
French Bonds, Stocks Tumble As Government Risks New Collapse In Weeks | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
