Berliner Boersenzeitung - Embattled French PM faces clutch day in parliament

France, the eurozone's second-largest economy, is in a deep political crisis that has spooked markets and raised concern about its minority government's ability to govern and ease the country's debt burden.

After an extraordinary week of political drama, which saw Lecornu resign on October 6 only to be re-appointed by Macron on Friday, the 39-year-old prime minister urged his new cabinet on Monday to do everything to help France overcome the deadlock.

"I am counting on you to show the utmost restraint and humility," Lecornu, the seventh prime minister of Macron's mandate, told his new cabinet.

"Service is something that requires putting egos aside," said Lecornu, on the eve of a key policy speech to parliament, where he faces threats of censure.

Lecornu addressed the cabinet following a low-key handover ceremony, which took place without journalists.

Macron's perceived refusal to bring in new faces has enraged the opposition, with the hard-left France Unbowed party and far-right National Rally threatening to topple Lecornu's new cabinet, which was unveiled late Sunday.

Lecornu's two immediate predecessors were ousted in a standoff over an austerity budget, and his immediate task is to put together a 2026 budget plan.

- 'Everyone's duty' -

The new cabinet is expected to present a draft budget on Tuesday that aims for a deficit below five percent of GDP, according to new government spokesperson Maud Bregeon.

The cabinet must give parliament the constitutionally required 70 days to scrutinise the plan before the end of the year.

In recent days, Macron has come under unprecedented pressure. Some opposition leaders are urging him to call snap elections or resign, and even key allies such as former prime minister Edouard Philippe have distanced themselves from the 47-year-old president.

Macron sought to shift all responsibility for the turmoil to political rivals as he travelled to Egypt to attend a summit on ending the Gaza war and highlight his diplomatic credentials.

"The political forces that have instigated the destabilisation of Sebastien Lecornu are solely responsible for this chaos," Macron told reporters upon arrival in Egypt, where he rubbed shoulders with US President Donald Trump and other world leaders.

"It is everyone's duty to work towards stability," Macron said.

He added before boarding his plane home: "I have confidence everyone will show a spirit of responsibility to get this done."

Political jockeying in France has been intensifying ahead of the 2027 presidential election.

Macron, who is enduring his worst-ever popularity levels, has vowed to serve out his second and final term.

- Pension reform under attack -

Many opponents and political analysts blame the French president for the current gridlock. In mid-2024, he called snap elections to stave off the march of the far right, but his gamble backfired.

Macron's centrist camp lost its majority, while parliament's lower house, the National Assembly, is now divided into three distinct blocs.

French daily Le Monde said in an editorial that Macron was on dangerous ground.

"The head of state is taking the risk of turning this major political crisis into a lasting institutional deadlock, and thus into a crisis of the regime," the newspaper said.

The leftist Socialists, a swing group, warn they may also vote against the government unless Lecornu backs off from a controversial 2023 pension reform that raised the retirement age from 62 to 64.

Socialist leader Olivier Faure said his party demanded an "immediate, complete" suspension of the pension reform.

The right-wing Republicans, once a key political ally of Macron, have meanwhile said they would only cooperate with the government on a "bill-by-bill" basis.

Macron declined on Monday to speculate on a possible dissolution of parliament in case of another government failure.

"I'm not making any bets," he said. "I want the country to move forward."

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(T.Renner--BBZ)