Unique Crypto Strategies
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Unique Crypto Strategies

World

French lawmakers push through no-confidence motion that could topple government

by December 2, 2024
December 2, 2024
French lawmakers push through no-confidence motion that could topple government

French lawmakers said they had introduced a motion of no confidence against Prime Minister Michel Barnier on Monday, setting up a vote that could see the far right topple his government within days.

The motion was presented after Barnier attempted to pass part of his government’s budget for 2025, which includes 60 billion euros ($62.8 billion) worth of tax hikes and spending cuts aimed at bringing the deficit down to 5% next year and back in line with European rules by the end of the decade.

Barnier, who was tapped as the leader of a minority government backed by centrists and conservatives in September, attempted to enact the budget using a constitutional clause that allows him to bypass a vote in the legislature. However, that maneuver in turn grants lawmakers the opportunity table no-confidence motions against him – and lawmakers on the left, who have repeatedly vowed to bring down Barnier’s government, did just that.

A pre-debate vote is expected on Wednesday.

“This is one power grab too many by an illegitimate government,” Mathilde Panot, a left-wing lawmaker who has opposed Barnier’s government, wrote on social media.

She added a warning to French President Emmanuel Macron, writing: “We have tabled a motion of no confidence. Barnier’s downfall is a foregone conclusion. Macron will be next.”

Should the measure pass, it would throw France into political chaos. In the immediate term, the budget bill would be shot down and Barnier and his ministers would serve in a caretaker capacity until Macron named a new premier.

A government collapse would also frighten financial markets concerned whether Europe’s second-largest economy has both the fiscal discipline and political will to bring its finances in order. France’s budget deficit is slated to hit 6.1% of GDP in 2024, more than double the amount allowed by the European Commission.

Concerned investors have already deemed French credit almost as risky as that of Greece.

While Barnier’s budget has temporarily appeased both the markets and Brussels, it has drawn the ire of Marine Le Pen and her party, the far-right National Rally, who have vowed to join lawmakers on the left and take down Barnier unless he concedes to several of their demands – only some of which he has agreed to.

“We are going to support this no confidence vote because the French have had enough of being mistreated. They thought things would change with Barnier, but it’s worse,” Le Pen told reporters on Monday.

Le Pen last week gave Barnier a Monday deadline to respond to her party’s demands.

This post appeared first on cnn.com
0
FacebookTwitterGoogle +Pinterest
previous post
Rebel groups have taken Syria’s second-biggest city. Here’s who they are
next post
MIRANDA DEVINE: We always knew Biden would pardon Hunter. It’s fitting president would break another promise

You may also like

North Korean troops spotted in Russian border region...

Ex-boyfriend sentenced to life in prison in femicide...

Death toll rises to 130 in northwest Pakistan...

Vandals attack Jewish area in Sydney in latest...

Adrien Brody dedicates his Globe win for ‘The...

French space researcher denied entry to the US...

Israel announces expansion of military operation in Gaza...

Israel won’t withdraw from Gaza-Egypt border, Israeli source...

Israeli military extends detention of Palestinian journalist despite...

Sudan’s army has captured the capital. Is it...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Department of Justice opens criminal investigation into NY AG Letitia James

    • Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

    • Drill Contract Awarded for Elizabeth Hill. Technical Visit Completed to Define Drill Targets

    • $2.6M Placement and SPP to fast-track China entry and sales

    • Trump’s first vice president urges his old boss against raising taxes on wealthy Americans

    Categories

    • Business (439)
    • Investing (2,066)
    • Politics (3,419)
    • Uncategorized (1)
    • World (2,180)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: uniquecryptostrategies.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 uniquecryptostrategies.com | All Rights Reserved


    Back To Top