The French government is certain to collapse later this week, as both far-right and left-wing parties have announced their support for a no-confidence motion against Prime Minister Michel Barnier.
In response, investors swiftly sold off French stocks and bonds, pushing the euro zone’s second-largest economy further into political turmoil.
“The French have had enough,” Reuters quoted National Rally (RN) leader Marine Le Pen as telling reporters in parliament, saying her party would put forward its own no-confidence motion and will also vote for any similar bill by other parties.
The left will also propose a similar motion.
“Maybe (voters) thought with Michel Barnier things would get better, but it got even worse,” added Le Pen.
Unless there is a last-minute turn of events, Barnier’s fragile coalition will become the first French government to be ousted by a no-confidence vote since 1962.
A government collapse would create a void at the heart of Europe, with Germany also in election mode, just weeks before Donald Trump’s return to the White House.
According to Reuters, RN lawmakers and the left now have enough votes to remove Barnier and have 24 hours to submit their no-confidence motions.
The remarks came after Barnier announced on Monday that he would attempt to push a social security bill through parliament without a vote, after a last-minute concession failed to secure RN’s support for the bill.
In the aftermath, French stocks reversed their gains, while the euro faced a sell-off, and bond yields rose.
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