Overview

• Prime Minister Sébastien Lecornu said he will withdraw the proposal to abolish two public holidays, reversing a flagship austerity measure.
• He announced the shift in interviews with French newspapers and presented it as a move away from radical cuts in favor of steadiness.
• The repositioning distances his government from François Bayrou, whose failed savings plan led to his defeat in a confidence vote on September 8.
• France is contending with about €3.3 trillion in public debt and a budget deficit near 5.4 percent of GDP, sustaining pressure for fiscal consolidation.
• Lecornu aims to secure a budget with backing from the Socialists and Les Républicains in a legislature stalemated since last year’s snap elections.