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last mo.

Bayrou Opens Last-Ditch Talks as Sept. 8 Confidence Vote Threatens His Government

Opposition parties pledge to defeat his €44 billion savings plan, making a loss broadly expected.

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Bayrou says sacrifices must be made to ensure France's future
The far-right party of Marine Le Pen senses a real chance to come to power
Bayrou accused some politicians of wanting to sow "chaos", targeting in particular hard-left firebrand Jean-Luc Melenchon

Overview

  • The prime minister began consultations with party leaders ahead of the Sept. 8 vote as the Socialists, National Rally, France Unbowed, Greens and Communists said they will oppose him.
  • Those parties together have the numbers to bring down the minority government, according to their public commitments.
  • Bayrou’s plan seeks roughly €44 billion in savings with measures such as cutting public holidays and freezing spending increases.
  • French stocks and bonds fell after the vote was announced then partly recovered; ECB chief Christine Lagarde said she is closely watching spreads and that a government fall in the euro zone is a concern.
  • President Emmanuel Macron rejected calls to resign, unions prepared nationwide protests this month over the draft budget, and senior officials warned of risks to institutional stability as the National Rally touted its readiness for power.