Overview

• The National Assembly rejected confidence in François Bayrou’s government by 364 votes to 194, in a vote centered on his 2026 savings plan of roughly €43.8–44 billion.
• Bayrou had engaged the government’s responsibility under Article 49.1, resulting in the first fall of a prime minister through this procedure under the Fifth Republic.
• The government is now démissionnaire and handling day-to-day affairs as Macron prepares to name a successor, with Bayrou expected to tender his resignation on Tuesday according to BFMTV.
• Opposition parties on the left and the Rassemblement National voted against, while Les Républicains granted their deputies freedom to vote, leading to splits in support.
• Key risks now include an uncertain budget timetable, planned “Bloquons tout” mobilisations on September 10, and a Fitch Ratings decision this week that could weigh on France’s fiscal outlook.