France Forms New Government Amid Budget Crisis

French Prime Minister François Bayrou has unveiled his new government, aiming to navigate a fractured parliament and address urgent legislative challenges, particularly the 2025 budget. This cabinet, the fourth since January, features a mix of familiar faces and newcomers, including former prime ministers Élisabeth Borne and Manuel Valls, with Éric Lombard appointed as finance minister to tackle France's rising debt, projected to hit 6% of GDP. Bayrou, a centrist and ally of President Macron, faces the challenge of securing support from both moderate left and right lawmakers while countering potential no-confidence votes from the far-right National Rally. The previous government fell after a historic vote concerning budget cuts, leading to a political deadlock with no single party holding a majority in the National Assembly. Bayrou's political experience is seen as essential for restoring stability amid ongoing pressure from financial markets. The government aims to stabilize the political landscape and foster cooperation across party lines to fulfill economic commitments.