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French government faces collapse as left and far-right submit no-confidence motions
French government faces collapse as left and far-right submit no-confidence motions
By Elizabeth Pineau and Ingrid Melander
December 2, 2024 5:40 PM EST • Updated an hour ago
Summary
• Far-right, left say they will vote government down
• No-confidence vote likely to take place on Wednesday
• Investors punish French stocks and bonds
• Fragile coalition relied on far-right RN support
PARIS, Dec 2 (Reuters) - The French government is all but certain to collapse later this week after far-right and left-wing parties submitted no-confidence motions on Monday against Prime Minister Michel Barnier.
Investors immediately punished French assets as the latest developments plunged the euro zone's second-biggest economy deeper into political crisis, with serious doubt cast over whether the annual budget will be approved.
{snip}
By Elizabeth Pineau and Ingrid Melander
December 2, 2024 5:40 PM EST • Updated an hour ago
Summary
• Far-right, left say they will vote government down
• No-confidence vote likely to take place on Wednesday
• Investors punish French stocks and bonds
• Fragile coalition relied on far-right RN support
PARIS, Dec 2 (Reuters) - The French government is all but certain to collapse later this week after far-right and left-wing parties submitted no-confidence motions on Monday against Prime Minister Michel Barnier.
Investors immediately punished French assets as the latest developments plunged the euro zone's second-biggest economy deeper into political crisis, with serious doubt cast over whether the annual budget will be approved.
{snip}