Unless there is a last-minute change, tomorrow (Wednesday) the French government will fall in a no-confidence motion by parliament submitted by far-right and left-wing parties on Monday against Prime Minister Michel Barnier.
The last time such an event occurred was in 1962.
Investors swiftly reacted to the latest developments, sending shockwaves through the euro zone’s second-largest economy as France’s political crisis escalated. Serious concerns are now mounting over whether the country’s annual budget will be approved, further deepening the uncertainty.
"The French have had enough," National Rally (RN) leader Marine Le Pen declared in parliament, accusing Prime Minister Barnier, who took office just two months ago, of worsening the situation and demanding his removal. “We are proposing a motion of no confidence against the government,” she confirmed.
A potential government collapse would create a political vacuum in Europe, with Germany also in election mode and U.S. President-elect Donald Trump set to take office in mere weeks.
Le Pen’s party, alongside the left-wing coalition, holds enough votes to oust Barnier. She confirmed that the RN would support the left's no-confidence motion, in addition to its own. The vote is expected on Wednesday.
The motions were sparked after Barnier's attempt to push through a social security bill without a parliamentary vote, a move that failed to win support from the RN. In response, Mathilde Panot of the left-wing France Unbowed condemned the government's actions.
"Faced with this umpteenth denial of democracy, we will censure the government," Panot declared, adding, "We are living in political chaos because of Michel Barnier's government and Emmanuel Macron's presidency."
* Reuters contributed to this article.
