Political Turmoil in France as Barnier Faces No-Confidence Votes

French Prime Minister Michel Barnier is facing potential no-confidence votes from both the far-right National Rally and the left-wing New Popular Front after he used Article 49.3 to push through a controversial budget without a vote in the National Assembly. This budget, which includes significant tax increases and spending cuts, aims to reduce France's deficit, currently at 5.5% of GDP with forecasts of 6.2% for the coming year. Barnier's actions have intensified political tensions, with Finance Minister Antoine Armand urging politicians to ensure stability during this critical juncture. As Barnier prepares to address the nation amidst this turmoil, the political landscape remains precarious, with the possibility of his government collapsing within 48 hours. If a vote of no confidence succeeds, it could jeopardize both Barnier's plans and President Macron's position. The situation raises concerns about potential economic ramifications for France and the broader Eurozone.