French President Emmanuel Macron is set to deliver a national address on Thursday in the wake of the National Assembly's historic no-confidence vote that led to the ousting of Prime Minister Michel Barnier. The vote, which saw 331 members of the National Assembly in favor of the motion, has left France without a functioning government.
Following Barnier's resignation, Macron is expected to focus on stabilizing the political crisis and potentially appointing a new prime minister to navigate the fractured parliament. The swift resignation of Barnier, after just three months in office, has put pressure on Macron to act promptly in naming a replacement capable of leading a minority government.
The process of selecting a new prime minister may prove challenging, as Macron's administration has yet to confirm any names. However, French media have reported a shortlist of centrist candidates who could potentially appeal to both sides of the political spectrum.
Opposition leaders have seized on the political turmoil, with some explicitly calling for Macron's resignation. Despite these calls, Macron has ruled out new legislative elections and affirmed his commitment to serving until 2027 as per his mandate.
The economic implications of the government's fall are also a cause for concern, with analysts warning of potential rises in French interest rates and debt levels. Rating agency Moody's has cautioned that the political gridlock could hinder efforts to consolidate public finances.
Macron's upcoming speech, scheduled for 8 p.m. local time, is expected to address these economic challenges and outline a path forward for the future government amidst the ongoing political uncertainty.
