Connect with us

Hi, what are you looking for?

Economy

France’s PM faces potential no-confidence vote as early as this week

France’s Prime Minister Michel Barnier is on the brink of a no-confidence vote following a contentious move to advance a social security financing plan without full parliamentary support. Barnier, who leads a minority government since September’s inconclusive general election, could be deposed if the opposition’s dissatisfaction culminates in a successful vote against him.

The social security financing debate, part of the government’s 2025 budget plan, was set for discussion in the lower-house National Assembly on Monday. The far-right National Rally (RN) party, led by Marine Le Pen in the parliament, has been critical of various segments of the budget plan, including the social security measures.

In an attempt to appease the RN, the prime minister’s office announced the cancellation of a proposal that would have reduced prescription drug reimbursements starting next year. Despite this concession, Barnier’s position remains precarious.

Should Barnier be unable to secure a majority in parliament for his legislative agenda, he might resort to invoking executive powers under article 49.3 of the French constitution to implement the measures without a vote. This action, however, could prompt a no-confidence motion, potentially as soon as Wednesday.

Surviving a no-confidence vote would require Barnier to avoid opposition from Le Pen’s RN, as support from left-wing parties appears unlikely. The outcome of such a vote could lead to the first successful motion of no confidence in France since 1962, when Georges Pompidou’s government fell during Charles de Gaulle’s presidency.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Former president Donald Trump and his allies have filed hundreds of lawsuits, with more to come, seeking to tighten voting rules or disqualify voters....

    Economy

    LONDON (Reuters) – Bank of England interest rate-setter Megan Greene said she still believed the central bank should take a cautious approach to cutting...

    Editor's Pick

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Latest News

    Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for...

    Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 beneficialinvestmentnow.com