France's National Rally has issued a deadline for Prime Minister Michel Barnier to meet its demands, or face a no-confidence motion which could bring down the government. Economic instability has followed, with investors selling off French assets and French borrowing costs surpassing Greek levels.
France 's hard-right National Rally will force the collapse of Prime Minister Michel Barnier 's government unless in a 'last minute miracle' he yields to their demands on the budget, its president Jordan Bardella said.
A no-confidence vote could take place as early as Wednesday. No French government has been forced out by such a vote since 1962. 'The RN will trigger the no-confidence vote mechanism unless there is a last minute miracle if Michel Barnier revises his copy before 3pm ,' Bardella told RTL radio, referring to the time at which parliament is set to vote on the social security financing bill.
Barnier already dropped a planned electricity tax increase last week, which the RN calls a victory, but Marine Le Pen's party also wants him to raise pensions in line with inflation, whereas he had aimed to increase some of them less than inflation to save money.
France National Rally Michel Barnier Government Collapse Budget No-Confidence Vote Economic Turmoil French Bonds Investor Sentiment
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