National Assembly member Jordan Bardella threatens to overthrow French government

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Jordan Bardella, chairman of France's Rassemblement National Party, warned on Monday that he would not hesitate to overthrow the government of Prime Minister Michel Barnier over his austerity measures, weighing on stocks, bonds and the euro.

Just hours before the depressing election is expected in the National Assembly. Barnier Given the “red line” of another right-wing leader, Marine Le Pen, abandoning plans to reduce drug reparations, which are supposed to save 900 million euros. It is his second concession after scrapping plans to raise electricity tariffs last week.

The fate of Barnier's budget and management remains in Le Pen's hands RNWhich is the single largest party and the main electoral block in the National Assembly.

Bardella told RTL radio Monday morning before Barnier's final concession: “The RN will push for a referendum mechanism only if there is a last-minute miracle and Barnier changes his bill between now and then. 3 p.m. “.

“I do not have much hope that he will do so because he has ignored and looked down on us (and our proposal) in recent months.”

Le Pen insisted All RN red line demands must be met if the government wants to avoid a no-confidence vote. The only remaining requirement is a temporary freeze on inflation, which adjusts inflation to pensions. The measure was initially supposed to save 3.6 billion euros.

Barnier's allies said the energy tax concession was made at the request of all opposition parties, not just the RN. But this time, the prime minister appeared to be sadly punished for pointing the finger at Le Pen, mentioning her name and saying: She asked during a phone call between them on Monday.

Investors There is growing concern That Barnier will not go through the កញ្ចប់ 60 billion fiscal package for 2025, including major tax increases aimed at reducing the deficit of about 6 percent of national output.

French stocks initially fell on Monday before stabilizing at midday but running lower than other European markets. The euro fell 0.5 percent to $ 1,052, said Joe Tuckey, head of foreign exchange analysis at Argentex.

France's 10-year borrowing rate fell 0.02 percent to 2.87 percent as bonds regained some land, although other eurozone debt eased. The gap or spread over German bond yields, a key measure of French bond risk – rose 0.83 percent, reaching a 12-year high of 0.9 points last week.

“It seems difficult to see how it plays a favorable role for the market when (the government) survives, which implies a compromise that is likely to lead to a wider deficit, or Barnier clinging to his gun, which causes Rising political uncertainty, Rabobank analysts noted.

Pierre Moscovici, head of France's independent state auditor general, warned that the country needed political stability if it was to repair its public finances.

“We have to signal that we are in control (over deficit) and it is true that with a vote of no confidence we are entering a phase of uncertainty,” he told France 2 television on Monday. Sure. ” “Our financial situation is alarmingly dangerous.”

Without a majority in parliament. Make a budget Proved torture for Barnier by forcing him to make concessions not only to the RN but also to his MPs. The amendments cut the planned savings of around ពាន់ 10 billion from the Social Security budget and may set Barnier's goal of narrowing the deficit to 5 percent by the end of 2025.

The left-wing Nouveau Front Populaire bloc also pushed against Barnier's budget and on Sunday confirmed that the four parties that formed it, including the moderate Socialists, would vote for an insulting movement.

If Barnier's government is voted down this week, it would be only the second time French lawmakers have taken such action since the Fifth Republic was formed in 1958. It would also make Barnier the shortest-serving prime minister during the same period.