Berliner Boersenzeitung - New French PM vows 'profound break' with past to exit crisis

EUR -
AED 4.291311
AFN 76.531928
ALL 92.709456
AMD 426.637052
ANG 2.091102
AOA 1072.550493
ARS 1751.946508
AUD 1.62736
AWG 2.1045
AZN 1.990842
BAM 1.952183
BBD 2.35228
BDT 142.719679
BGN 1.981958
BHD 0.440505
BIF 3481.698465
BMD 1.168355
BND 1.482141
BOB 13.49083
BRL 6.00979
BSD 1.168026
BTN 111.782317
BWP 15.650867
BYN 3.494196
BYR 22899.761713
BZD 2.349117
CAD 1.607803
CDF 2658.008479
CHF 0.935974
CLF 0.027171
CLP 1069.360917
CNY 7.852808
CNH 7.852095
COP 3565.411114
CRC 531.510631
CUC 1.168355
CUP 30.961413
CVE 110.702114
CZK 24.11065
DJF 207.640544
DKK 7.476609
DOP 68.711428
DZD 155.330915
EGP 59.448487
ERN 17.525328
ETB 188.343382
FJD 2.559404
FKP 0.856735
GBP 0.855791
GEL 3.043612
GGP 0.856735
GHS 12.973248
GIP 0.856735
GMD 85.878606
GNF 10252.317202
GTQ 8.91337
GYD 244.365132
HKD 9.159473
HNL 31.411276
HRK 7.535545
HTG 152.806869
HUF 362.319081
IDR 20629.64758
ILS 3.490115
IMP 0.856735
INR 111.811417
IQD 1531.129476
IRR 1605991.834926
ISK 141.616783
JEP 0.856735
JMD 185.372562
JOD 0.82841
JPY 185.779579
KES 151.232345
KGS 102.17311
KHR 4725.997151
KMF 493.046299
KPW 1051.520014
KRW 1618.733196
KWD 0.360345
KYD 0.973388
KZT 537.773575
LAK 26258.78329
LBP 104626.207621
LKR 384.512611
LRD 212.202557
LSL 18.857698
LTL 3.44985
LVL 0.706727
LYD 7.424943
MAD 10.811667
MDL 20.107571
MGA 5047.294823
MKD 61.399403
MMK 2453.002354
MNT 4202.403814
MOP 9.432143
MRU 46.886536
MUR 54.480845
MVR 18.063213
MWK 2029.433367
MXN 19.749555
MYR 4.718407
MZN 74.663784
NAD 18.857693
NGN 1575.036704
NIO 42.882984
NOK 10.855399
NPR 178.849615
NZD 1.952281
OMR 0.449228
PAB 1.168021
PEN 3.918708
PGK 5.178195
PHP 72.105629
PKR 324.306237
PLN 4.311991
PYG 7035.963273
QAR 4.2587
RON 5.253631
RSD 117.377681
RUB 96.622548
RWF 1716.897951
SAR 4.389017
SBD 9.376998
SCR 16.064096
SDG 702.769941
SEK 11.055573
SGD 1.4828
SHP 0.865595
SLE 28.800389
SLL 24499.823241
SOS 667.719269
SRD 44.129208
STD 24182.593521
STN 24.944383
SVC 10.218929
SYP 15190.954063
SZL 18.799266
THB 38.135544
TJS 10.775043
TMT 4.100927
TND 3.384769
TOP 2.813119
TRY 56.149402
TTD 7.922219
TWD 37.188166
TZS 3096.138959
UAH 52.19118
UGX 4344.466868
USD 1.168355
UYU 46.981943
UZS 13847.346095
VES 910.122175
VND 30522.695146
VUV 138.106026
WST 3.17404
XAF 654.738251
XAG 0.016782
XAU 0.000253
XCD 3.157539
XCG 2.1051
XDR 0.826088
XOF 656.035637
XPF 119.331742
YER 277.021208
ZAR 18.697673
ZMK 10516.602919
ZMW 22.163649
ZWL 376.209894
  • RBGPF

    -0.7900

    68.56

    -1.15%

  • CMSC

    -0.1780

    21.102

    -0.84%

  • JRI

    -0.0300

    12.38

    -0.24%

  • RYCEF

    -0.1700

    20.25

    -0.84%

  • NGG

    -0.8600

    79.76

    -1.08%

  • BCC

    0.7000

    82.47

    +0.85%

  • RIO

    3.1300

    105.3

    +2.97%

  • VOD

    -0.0500

    15.96

    -0.31%

  • CMSD

    -0.1400

    20.98

    -0.67%

  • BCE

    -0.0700

    23.71

    -0.3%

  • RELX

    0.5300

    35.91

    +1.48%

  • GSK

    0.4500

    52.41

    +0.86%

  • BTI

    -0.4900

    56.21

    -0.87%

  • BP

    -0.3800

    44.76

    -0.85%

  • AZN

    1.4900

    165.98

    +0.9%

New French PM vows 'profound break' with past to exit crisis
New French PM vows 'profound break' with past to exit crisis / Photo: Ludovic MARIN - AFP

New French PM vows 'profound break' with past to exit crisis

France's new Prime Minister Sebastien Lecornu promised a "profound break" with the past on Wednesday as he faced the thorny task of trying to build a government with enough parliamentary support to avoid an early demise.

Text size:

Lecornu's first day on the job coincided with street protests across France in a show of grassroots opposition to President Emmanuel Macron, which resulted in clashes with police and dozens of arrests, as well as some disruption to transport, schools and other services.

But the protests, called by a collective without a clear leader, had an uneven impact across the country.

The president appointed Lecornu -- a close Macron ally and defence minister for the past three years -- late on Tuesday, only 24 hours after his predecessor Francois Bayrou lost a confidence vote in parliament over his attempt to implement austerity measures to reduce France's debt.

Taking over from 74-year-old Bayrou, Lecornu, who is 39, promised to find "more creative" ways than before to work with opposition parties as he tries to build a stable government.

"We will get there," he said during a handover ceremony.

Lecornu is the seventh prime minister since Macron took office in 2017 -- and the third within the space of the year.

An urgent policy challenge will be to give France a budget for 2026 without suffering the same fate as Bayrou, who lasted just nine months and fell when opposition parties joined forces to push him out.

- No-confidence motion -

Lecornu said he would address the nation "in the coming days" to explain his approach, which would be different from the past, and "not just in method".

Since Macron dissolved parliament last year, successive governments have lacked a majority in the National Assembly, putting them in constant danger of being voted out.

The hard-left France Unbowed (LFI) party has already announced a no-confidence motion against Lecornu in parliament, for now with no backing from other parties.

Earlier Wednesday, France deployed some 80,000 police nationwide to face demonstrators.

Protesters in and around Paris built barricades from rubbish bins, blocked schools and roads and pelted police with garbage early in the day.

Interior Minister Bruno Retailleau warned demonstrators that there would be "zero tolerance" for violence.

Despite a call by a loose left-wing coalition of organisers to "block everything", that target was only partly achieved.

Most high-speed trains ran on schedule, and disruption to the Paris metro was minimal, operators reported.

But many schools were blocked, and protesters occupied roads and railway stations across the country.

In the southeastern city of Lyon, protesters blocked a road running through the city and set bins on fire, while in the western city of Nantes police used tear gas to disperse protesters.

By mid-morning, close to 200 arrests had been made, Retailleau told reporters, most of them in and around Paris.

In the southern port city of Marseille, police stopped some 200 demonstrators from blockading a main road.

Macron's decision to name a close ally as prime minister was a "slap in the face", said Florent, a protester in Lyon who gave only his first name. "We need change," he said.

- Debt-cutting drive -

The decentralised nature of the protests was reminiscent of a previous anti-government movement -- the Yellow Vests, which emerged in 2018 without clear leadership and became a major test for Macron during his first term.

Bayrou had insisted 44 billion euros ($52 billion) of spending cuts were needed to tackle France's debt and stabilise the public finances.

Opponents accused him of trying to achieve this at the expense of wage earners and pensioners while sparing the wealthy.

"None of this is OK," said Chloe, a 25-year-old student demonstrating in the southern city of Toulouse. "The working class suffers the most. There could be a better way."

Cedric Brun, a 46-year-old auto worker and local union boss in the northern city of Valenciennes, said he was disappointed to see protesters easily kept at bay by police.

"I thought there'd be more of us," he said. "It's unfortunate that there are more revolutionaries on Facebook than in real life."

(Y.Berger--BBZ)