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French Government Teeters Amid Budget Dispute

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The left-wing coalition and the RN have enough votes to topple the Prime Minister. The opposition parties have promised to back the no-confidence motion, and a vote could take place as early as Wednesday. Investors have already punished French assets, with the euro zone's second-largest economy plunging deeper into political crisis. This development marks a significant moment in French politics, as Barnier's fragile coalition will be the first French government to be forced out by a no-confidence vote since 1962.

    1. That's it for Barnier. He's out of here.
    1. We are now experiencing political chaos as a result of both Mr Barnier's government and Emmanuel Macron's presidency.
    2. One sure thing is that this government has not led to any form of stability, that Macron's politics have not led to any form of stability – and that has worsened in the last month.
    1. We can bring down Mr Barnier and this budget.
    2. We have tabled a motion of no confidence. Barnier's downfall is a foregone conclusion. Macron will be next.
    3. This is one power grab too many by an illegitimate government.
    1. I respect the culture of compromise. There have been numerous hours of work to enrich this text … it has had multiple evolutions.
    2. We have arrived at a moment of truth. … [We must] decide if our country gets a responsible, indispensable budget or if we step into uncharted territory.
    3. The domestic instability will require a lot of political bandwidth from Macron. The country is in this weird in-between period where on one hand, the government is extremely unstable and on the other hand it is paralysed because you cannot do anything. This requires a lot of presidential attention, making it challenging for Macron to focus on European issues.
    1. He turned to the RN a week ago and we repeated our red lines. We haven't pulled these red lines out of a hat for our pleasure.
    2. We are going to support this no confidence vote because the French have had enough of being mistreated. They thought things would change with Barnier, but it's worse.
    3. There are other ways of addressing the already high deficit. We have made proposals. The government did not want to budge. Michel Barnier said he was facing up to his responsibility. We are facing up to ours.
    4. Everyone must take responsibility for their actions and I take mine.
    5. Maybe [voters] thought with Michel Barnier things would get better, but it got even worse.
    1. Ever since Barnier took the prime minister's office, it was clear that he was dependent on support from forces in the French political system especially, the radical right led by Le Pen.
    1. What is at stake is France's financial stability.
French Government Teeters Amid Budget Dispute