The French Prime Minister, Francois Bayrou, is under the greatest turmoil of his brief reign, as parliamentarians in the National Assembly cast their votes today to determine the survival of his government. The core of this standoff is a proposed austerity package of EUR44 billion, aimed at curbing the increasing public debt.
Both left- and far-right opposition parties have opposed the plan, arguing that Bayrou is penalizing households without creating any growth. Analysts fear losing this would unseat the fourth prime minister in just under two years, which would expose France to another spell of political dysfunction or a hasty election when the second biggest economy in Europe needs stability.
