Berliner Boersenzeitung - France PM edges closer to forcing budget through without a vote

EUR -
AED 4.246655
AFN 73.370436
ALL 95.85756
AMD 436.183723
ANG 2.069944
AOA 1060.363353
ARS 1591.997113
AUD 1.665235
AWG 2.084013
AZN 1.966403
BAM 1.949821
BBD 2.330235
BDT 141.986474
BGN 1.976541
BHD 0.436604
BIF 3434.327888
BMD 1.156339
BND 1.479029
BOB 7.994866
BRL 6.05679
BSD 1.156943
BTN 108.829124
BWP 15.767403
BYN 3.429104
BYR 22664.251381
BZD 2.327115
CAD 1.597489
CDF 2636.453561
CHF 0.915202
CLF 0.02686
CLP 1060.582781
CNY 7.980477
CNH 7.983586
COP 4280.13231
CRC 537.971372
CUC 1.156339
CUP 30.642993
CVE 110.574938
CZK 24.465772
DJF 205.504507
DKK 7.47252
DOP 69.814005
DZD 153.473986
EGP 60.744358
ERN 17.34509
ETB 181.886277
FJD 2.576551
FKP 0.864047
GBP 0.865283
GEL 3.116362
GGP 0.864047
GHS 12.661969
GIP 0.864047
GMD 84.988596
GNF 10152.659388
GTQ 8.855078
GYD 242.07657
HKD 9.041244
HNL 30.66647
HRK 7.536674
HTG 151.720034
HUF 387.345955
IDR 19705.641505
ILS 3.602979
IMP 0.864047
INR 109.375885
IQD 1514.804557
IRR 1518447.025122
ISK 143.189913
JEP 0.864047
JMD 182.245914
JOD 0.819814
JPY 184.257476
KES 150.034967
KGS 101.120955
KHR 4640.390011
KMF 493.756627
KPW 1040.72201
KRW 1739.191954
KWD 0.354522
KYD 0.964189
KZT 558.249982
LAK 24959.585362
LBP 103550.188888
LKR 363.877402
LRD 212.361533
LSL 19.588134
LTL 3.414369
LVL 0.699458
LYD 7.371702
MAD 10.785752
MDL 20.230929
MGA 4821.934928
MKD 61.639763
MMK 2428.506437
MNT 4127.516433
MOP 9.317536
MRU 46.404003
MUR 53.7238
MVR 17.865244
MWK 2008.561579
MXN 20.556765
MYR 4.584305
MZN 73.885704
NAD 19.577233
NGN 1602.061835
NIO 42.460666
NOK 11.201245
NPR 174.129602
NZD 1.99154
OMR 0.444574
PAB 1.157007
PEN 4.001516
PGK 4.983245
PHP 69.387276
PKR 322.676366
PLN 4.275582
PYG 7527.982307
QAR 4.213741
RON 5.094947
RSD 117.421631
RUB 93.661073
RWF 1688.25546
SAR 4.338214
SBD 9.299324
SCR 15.841485
SDG 694.960276
SEK 10.814438
SGD 1.481311
SHP 0.867554
SLE 28.387799
SLL 24247.870647
SOS 660.270118
SRD 43.178292
STD 23933.890033
STN 24.745662
SVC 10.124088
SYP 128.293837
SZL 19.516839
THB 37.892986
TJS 11.078991
TMT 4.047188
TND 3.396748
TOP 2.784187
TRY 51.294885
TTD 7.867183
TWD 36.946082
TZS 2971.860396
UAH 50.797502
UGX 4280.984429
USD 1.156339
UYU 46.837397
UZS 14107.339876
VES 534.333269
VND 30469.542036
VUV 138.191887
WST 3.16629
XAF 653.980002
XAG 0.016298
XAU 0.000256
XCD 3.125065
XCG 2.085287
XDR 0.812319
XOF 651.594744
XPF 119.331742
YER 275.960467
ZAR 19.642349
ZMK 10408.441873
ZMW 21.665598
ZWL 372.340801
  • RIO

    0.7700

    87.54

    +0.88%

  • NGG

    1.9600

    84.29

    +2.33%

  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSC

    0.0400

    22.91

    +0.17%

  • CMSD

    0.0500

    22.68

    +0.22%

  • BCE

    -0.3400

    25.49

    -1.33%

  • AZN

    1.3600

    187.14

    +0.73%

  • RELX

    0.0100

    32.47

    +0.03%

  • JRI

    0.2400

    12.1

    +1.98%

  • RYCEF

    0.3000

    15.9

    +1.89%

  • VOD

    0.0600

    14.72

    +0.41%

  • BCC

    1.0800

    74.65

    +1.45%

  • BTI

    0.6900

    58.45

    +1.18%

  • BP

    0.6200

    45.41

    +1.37%

  • GSK

    1.7500

    54.7

    +3.2%

France PM edges closer to forcing budget through without a vote
France PM edges closer to forcing budget through without a vote / Photo: Alain JOCARD - AFP

France PM edges closer to forcing budget through without a vote

French Prime Minister Sebastien Lecornu on Friday inched closer to forcing his budget bill through parliament without a vote while desperately seeking a way to avoid being toppled by parliament as a result.

Text size:

The eurozone's second-largest economy has been bogged down in political crisis since President Emmanuel Macron called a snap poll in 2024, in which he lost his parliamentary majority.

In a bid to survive being toppled by parliament like his two predecessors, Lecornu last year pledged to seek parliament approval for a 2026 austerity budget -- and not ram it through without a vote.

He managed to get a bill on social security spending approved by year end but lawmakers have failed to reach a compromise on state expenses.

The centre-right government said late on Thursday it would be "impossible to adopt a budget by a vote" and that it had given itself until Tuesday to examine two alternative options.

One is to use a constitutional power under "Article 49.3" to push the legislation through parliament without a vote, as for previous budgets.

That can trigger a no-confidence vote, which could topple the government and its spending bill with it.

The other option is for the first time to issue a decree that forces the budget directly into law.

That too could spark a no-confidence vote, but the budget would remain even if the cabinet was ousted.

- Appealling to Socialists -

Lecornu appeared on Friday to be working on concessions to secure the backing of the Socialists, a key swing group in parliament, to survive any motion to topple him.

The prime minister would be "making one-euro university meals available to all students" as part of the final budget bill, an adviser said, evoking a measure the Socialists had requested.

The party had in 2024 put forward a bill for all students to pay just one euro ($1.16) for a meal, not just some with scholarships or within lower income brackets. Other students now pay 3.30 euros.

A poll of around 800 people that year found that a third of students at times skipped a meal "for lack of money".

Lecornu, who has warned that kicking him out would spark early elections, defended the "responsible" budget while announcing further social benefits in a televised speech later Friday.

An additional 400 million euros would go toward social housing providers and low-income earners would see a top-up benefit increased by an average of 50 euros per month, he said while assuring there would be "no increase in taxes on households".

Existing tax breaks to pensioners would also be preserved, along with student grants, he said.

Lawmakers from across the political spectrum have emerged exasperated after months of back and forth, and are looking for a swift resolution.

"I'm tired of having the same debate over and over again," said right-wing Republicans lawmaker Marie-Christine Dalloz.

"I'm really looking forward to the end of this episode."

Greens member of parliament Steevy Gustave said he felt like a "robot" repeating the same thing every day.

"If only there had been results, some compromises -- but no," he said.

(B.Hartmann--BBZ)