Prime Minister François Bayrou will begin a series of talks with France’s political parties on Monday, seeking to avoid the fall of his government in a confidence vote next week, which opposition leaders have said is destined to fail.
Opposition parties have vowed to topple the minority government in the September 8 vote, which Bayrou unexpectedly announced last week as he pushes forward with unpopular plans for budget tightening in 2026.
French stock and bond markets fell sharply last week after Bayrou’s announcement but regained ground on Monday.
European Central Bank President Christine Lagarde said France remained strong, but any risk of government collapse in the eurozone was troubling. France is the second-largest economy in the eurozone.
Bayrou was scheduled to open his talks with the Communist Party on Monday afternoon, before meeting other parties later in the week.
Opposition Socialist Party leader Olivier Faure said on Sunday that the decision to vote against Bayrou was “final.”
Faure added that he considered Bayrou unreliable and that his party would meet him this week only out of respect for the country’s institutions.
The Socialists have made a counterproposal for the budget, which would reduce the deficit by €21.7 billion next year — half of what Bayrou says is necessary. Their plan would include higher taxes on the wealthy and large corporations.
