Overview

• The National Assembly rejected the minority cabinet by 364–194, and François Bayrou must submit his government's resignation, with the cabinet expected to serve in a caretaker role.
• Bayrou had sought backing for about €44 billion in savings for 2026, including scrapping two public holidays, proposals that provoked strong public and political resistance.
• Left and green parties joined forces with the far-right Rassemblement National to deny confidence to the government.
• Large street actions are planned, including a 'Bloquons tout' nationwide blockade on September 10 and union-led strikes on September 18, as markets and ratings agencies watch closely.
• President Emmanuel Macron must decide whether to appoint a new prime minister or dissolve the National Assembly, with high debt near 114% of GDP and a 5.8% deficit underscoring the fiscal stakes.