Francois Bayrou appointed as France's new prime minister

In a move to stabilize the French government, President Emmanuel Macron appointed Francois Bayrou as the new prime minister on Friday. This appointment follows the resignation of Michel Barnier on December 5, after his government was unseated by a no-confidence vote, the first such occurrence in France since 1962.

The unexpected coalition between left-wing and far-right opposition parties led to the downfall of Barnier's administration. The New Popular Front (NFP) and Marine Le Pen's National Rally (RN) joined forces against the proposed 2025 budget plans, which included tax increases and public spending cuts.

Bayrou takes office as the fourth prime minister of France within this year, highlighting the political challenges Macron faces. The president had intended to announce a successor the day after Barnier's resignation but was unable to meet his self-set 48-hour deadline following a meeting with party leaders on Tuesday.

The recent political instability began with legislative elections held in June and July, which were called by Macron in an attempt to solidify his centrist alliance in the National Assembly. However, the elections resulted in a weakened position for his party.

Prior to Barnier, Gabriel Attal served as the country's youngest prime minister in modern history starting in January, with Elisabeth Borne preceding him. Macron's decision to appoint Bayrou is seen as a step towards addressing the ongoing political stalemate and the issues surrounding the French deficit.

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Source: Investing.com