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FT News Briefing
France finally gets a new PM
Sep 6, 2024
Michel Barnier, the EU's former Brexit negotiator, is now France's Prime Minister, promising to respect all political forces during challenging times. Meanwhile, Ukraine's President Volodymyr Zelenskyy is making waves with a major cabinet reshuffle, aiming to inject new energy into his wartime government. The conversation also dives into the unexpected rise of defense stocks among European ESG funds, reflecting changing attitudes towards ethical investments amidst escalating global tensions.
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Quick takeaways
- Michel Barnier's appointment as France's new Prime Minister aims to stabilize a government amid pressing economic challenges and a fragmented parliament.
- The reshuffling of Ukraine's cabinet is a strategic move to rejuvenate government efficiency during ongoing conflict, despite potential consolidation of presidential power.
Deep dives
French Political Reshuffle
President Emmanuel Macron has appointed Michel Barnier as the new Prime Minister of France, aiming to end a political stalemate following the recent elections. This decision reflects Macron's strategic gamble after his centrist coalition lost seats, leading to a situation where no faction holds a majority. Barnier, known for his role as the Brexit negotiator, now faces pressing challenges as France's economy struggles and budget negotiations are on the horizon. His appointment comes after a tumultuous week in French politics, marking a crucial step in stabilizing the government.
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