Macron announces the appointment of a new prime minister in the coming days – Newsad

French President Emmanuel Macron awaits the arrival of a guest at the Elysee Palace in Paris, France, August 27, 2024. – Reuters
French President Emmanuel Macron awaits the arrival of a guest at the Elysee Palace in Paris, France, August 27, 2024. – Reuters

PARIS: A day after French Prime Minister Michel Barnier’s government was ousted through a no-confidence move, President Emmanuel Macron announced on Thursday that he would appoint a new prime minister in the coming days.

He stressed that the next prime minister’s top priority will be obtaining the 2025 budget approved by Parliament.

Michel Barnier, a veteran conservative, became the shortest-serving prime minister in modern French history when he resigned on Thursday after parliament voted out his fiscal plans, just three months after his appointment.

In a televised address to the nation, Macron said he would appoint a successor to Barnier “in the coming days.”

Macron said: “The priority will be the budget.”

A special law to renew the 2024 budget and avoid any gap is scheduled to be introduced by mid-December. The new government will then prepare a full budget early next year, especially to account for inflation, for a vote by Parliament.

Macron, whose fateful decision to call early elections last June, led to a major parliamentary division, denied responsibility for the political crisis.

The president, who represents a centrist party, said far-right and left-wing parties had united in an “anti-republican front” to create “chaos” by ousting Barnier.

Macron has been weakened by the crisis, but he has resisted calls from some in the opposition for him to resign. He reiterated that he will remain in his position until the end of his term in May 2027.

“The mandate you gave me is for a period of five years, and I will fulfill it until the end,” he said.

He added in a 10-minute speech that the new government must represent a diverse group of parties willing to participate in it or at least agree not to criticize it. He didn’t say any of it.

Meanwhile, Macron asked Barnier and his government to remain in a caretaker position until a new government is formed.

Fiscal deficit, and parliament divided

It was not clear whether a new government would be formed before Saturday’s ceremony to reopen Notre Dame Cathedral, which was renovated after a devastating fire. World leaders are expected to attend, including US President-elect Donald Trump.

Macron pointed to the rebuilding of the Gothic cathedral and the successful Olympics in Paris over the summer as evidence that France can achieve results.

“They are proof that we can do great things. We can do the impossible,” he said. “The world admires us for that.”

Le Parisien newspaper reported that Macron had lunch on Thursday with Francois Bayrou, who French media have mentioned as a possible successor to Barnier. An aide to Bayrou did not respond to a request for comment.

Any new prime minister will face the same challenge of dealing with a divided parliament as Barnier did, particularly approving the budget at a time when France needs to rein in its public finances.

French bonds and stocks rose on Thursday, amid what some traders described as profit-taking following the widely expected outcome of the no-confidence vote in parliament that ousted Barnier. But relief is unlikely to continue to rise, given the scale of political uncertainty.

“Until possible new elections, ongoing political uncertainty is likely to keep the risk premium on French assets high,” Société Générale analysts said in a note. The earliest possible date for holding parliamentary elections will be in July.

The fall of the French government leaves the country without a clear path toward reducing its fiscal deficit, with the most likely outcome being less austerity than previously planned, credit rating agency Standard & Poor’s said.

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