emmanuel macron

Europe’s second-largest economy has plunged into political paralysis again, as the French government has been overthrown by yet another no-confidence vote. This time, the no-confidence vote was against Prime Minister François Bayrou and his proposals to reduce the country’s public deficit from a projected 5.4% in 2025 to 4.6% in 2026—and to fall within the European 3% by 2029—with highly unpopular measures that would have included a “freeze” on government spending, over 5.3 billion euros in cuts to local authorities, and 5 billion euros in cuts in the country’s healthcare budget, yet with plans underway to significantly boost defense spending in the next few years. Bayrou’s 2026 budget envisaged in total around 44 billion euros ($51.3 billion) in cuts, tax increases, and even the scrapping of two public holidays, with the latter stirring as much outcry in France as the austerity budget itself.

Essentially, France has now lost its third prime minister in 12 months as political parties from the far-right National Rally (RN) to the hard-left La France Insoumise (France Unbowed) refuse to back draconian budget proposals as a means of addressing the country’s financial woes. The collapse of the Bayrou government was not a surprise, and some of us had even predicted that it would “meet the same fate” as the government that preceded it, namely that of Michel Barnier. Indeed, there is no other country in Europe with continuous anti-neoliberal struggles as France. Opposition to the normalization of the neoliberal socioeconomic reality has been in constant motion since the mid-1990s when President Jacques Chirac launched a direct attack on the foundational principles of the welfare state.