France plunged deeper into political uncertainty on Monday as parliament voted to bring down Prime Minister François Bayrou and his minority government over plans to curb the nation’s rising debt. Lawmakers ousted Bayrou with 364 votes against him and 194 in his favor, leaving President Emmanuel Macron searching for his fifth prime minister in under two years.
The government’s collapse comes amid efforts to implement a €44 billion ($51.5 billion) budget cut aimed at reining in France’s deficit, which stands at nearly twice the European Union’s 3% ceiling, and to tackle a debt pile equivalent to 114% of GDP. Bayrou had called the confidence vote hoping to secure parliamentary support for his fiscal strategy but faced staunch opposition from parties unwilling to back austerity measures.
“You have the power to bring down the government, but you do not have the power to erase reality,” Bayrou told lawmakers. “Expenses will continue to rise, and the burden of debt will grow heavier and more costly.” His resignation will be formally submitted on Tuesday.
Far-right leader Marine Le Pen called the vote “the end of the agony of a phantom government,” urging Macron to call snap elections, while hard-left leader Jean-Luc Mélenchon echoed the call, insisting the president also be held accountable. Macron has resisted dissolving parliament for now but must soon decide on a successor, with options including centrist allies, conservative figures, moderate socialists, or technocrats. None are guaranteed a majority, which could further dilute fiscal reform plans.
Markets largely expected the government’s fall, and immediate financial reaction was muted. Attention now turns to upcoming credit rating reviews by Fitch, Moody’s, and S&P, which could add pressure if France’s debt profile is downgraded. The country currently holds the highest deficit as a percentage of GDP in the eurozone, and borrowing costs are rising relative to German bonds.
Meanwhile, grassroots protests and labor unrest may intensify. The movement “Bloquons Tout” has called for nationwide disruptions this week, and trade unions are planning walkouts. Many French citizens remain skeptical about a swift solution. “Come back in 10 days and you’ll see nothing will have changed. There won’t be a majority, there will be no budget,” said Mohamed, 80, a market vendor in Paris.
With political instability and debt pressures mounting, France faces a turbulent period that could have repercussions across the eurozone and beyond.
