French National Assembly Unanimously Rejects Proposed 2027 Budget
The French National Assembly has voted unanimously against Prime Minister Sebastien Lecornu's proposed 2027 budget, which aimed to implement €54 billion in spending cuts. The rejection comes amid a hung parliament and mounting pressure from bond markets due to France's rising deficit and national debt levels. This political deadlock follows the country's inability to form a stable majority since recent snap elections. The fiscal crisis coincides with widespread civil unrest, including nationwide strikes and violent protests over the cost of living that have already caused over €1 billion in damages. While lawmakers rejected the bill, analysts suggest the government may resort to constitutional powers like Article 49.3 or passing the budget by ordinance to bypass parliamentary approval and appease international creditors.
Topics: fiscal deficit France budget rejection government instability National Assembly vote sovereign debt