French Socialist Party Meets Post-Bayrou Amid Budget Crisis

French Prime Minister François Bayrou faces mounting political challenges as he seeks support for a contentious austerity budget proposing a 44 billion euro cut in public spending for 2026, amidst rising national debt and deficit concerns. Opposition from political rivals, including some on the left and far-right figures like Marine Le Pen, threatens his ability to secure a parliamentary confidence vote, risking political instability. The Socialist Party has shown interest in taking over Matignon, with discussions underway among leftist parties about forming a government following Bayrou's potential fall, though they have not included La France Insoumise. President Emmanuel Macron is currently not considering dissolving the National Assembly but may have to if Bayrou loses support. Behind the scenes, Socialist leaders are debating their position, with some advocating for stability by maintaining Bayrou, while others express deep frustration and readiness to oppose him. The political turmoil underscores uncertainty over France's economic direction and governance amid the fiscal crisis.