French Political Crisis Unfolds

The French Prime Minister, Michel Barnier, faces a no-confidence vote after pushing a budget bill through parliament without a formal vote. This controversial move involved invoking Article 49.3 of the French Constitution, allowing the government to bypass a vote but risking censure. Critics from the far-right and left argue that Barnier's actions reflect a larger issue of political instability in France, particularly following a deeply divided National Assembly from last summer's snap elections. With the country grappling with high public debt, estimated over 100% of GDP, this political turmoil raises concerns about its impact on the financial markets.