France PM Bayrou Resigns Amid National Assembly Crisis, Strikes

France is currently facing a severe political and economic crisis as Prime Minister François Bayrou's government is on the verge of collapse following a no-confidence vote tied to his unpopular budget plan. The budget, which sought a middle ground with modest spending cuts and tax increases on the wealthy, failed to satisfy either the left or the right, resulting in political paralysis and plunging President Emmanuel Macron's second term into turmoil. The crisis has led to rising French bond yields, with borrowing costs climbing above those of several Eurozone countries previously seen as financially unstable, reflecting investor concerns amid political uncertainty. This instability is affecting everyday life and the economy, exemplified by decreased business revenues, increased unemployment, and fears of mass protests and further government instability. Additionally, the crisis threatens to delay significant social reforms, such as assisted dying and improved palliative care, which Macron had prioritized, highlighting the deep disconnect between the government and public needs. With Macron facing tough choices between calling new elections or continuing without a parliamentary majority, the future governance of France remains uncertain amid mounting national debt and a fractious political landscape.