France’s debt is sparking political chaos as Prime Minister François Bayrou faces a likely vote of no confidence over budget cuts and a massive fiscal deficit on September 8. President Emmanuel Macron has repeatedly grabbed international headlines for his global ambitions, but critics say he’s neglecting the economic turmoil at home.
Bayrou, France’s fourth prime minister in a single year, proposed reducing the fiscal deficit to 4.6% of GDP next year by cutting 44 billion euros ($51 billion) and two public holidays. The plan aimed to bring the deficit to its lowest level since 2020. But labor unions and other parliamentary parties erupted in opposition, threatening strikes and attempting to topple his government.
Leo Barincou, senior economist at Oxford Economics, told Fox News Digital that any union strikes “likely won’t last long, nor will they be significantly disruptive to the economy like the Yellow Vest protests in the winter of 2018-2019.” Even so, Bayrou appears poised to lose the vote, leaving Macron to appoint yet another prime minister or risk a snap election.
Senior strategist Elias Haddad noted, “Bayrou is expected to lose, and all the other parties have vowed to topple the government.” Yet Macron himself seems unlikely to resign, and minimal budget reforms may follow.
Some conservatives argue that France’s broader problem stems from a dependency culture that has taken hold across Europe. Ben Habib, preparing a new right-leaning party in Britain, said, “Too many people are relying on government handouts rather than generating income through their own efforts.” This cultural shift, combined with political instability, threatens long-term economic growth.
