Overview

• Prime Minister Sébastien Lecornu told lawmakers he will seek to halt the 2023 overhaul and pledged no increase in the retirement age until January 2028.
• The move is designed to win votes in a fractured National Assembly where successive minority governments have failed to pass a deficit-cutting budget.
• Opposition parties have filed no-confidence motions this week, and President Emmanuel Macron signaled he could call new legislative elections if Lecornu is toppled.
• France’s independent budget watchdog criticized the new plan for relying on upbeat assumptions and cautioned the measures may not curb rising debt.
• Markets are on alert as France targets a 2026 deficit of roughly 4.7%–5% of GDP versus the EU’s 3% reference, with debt near 118% of GDP and rating pressure in focus.