US Edition'There's Gonna Have to Be a Compromise' on French Budget, Prof. Antonio Fatas Says
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'There's gonna have to be a compromise' on French budget, Prof. Antonio Fatas says
With markets under pressure amid French political turmoil in the wake of Prime Minister Sébastien Lecornu's surprise resignation, we speak with Antonio Fatas, Professor of Economics at INSEAD. In this conversation, he provides a wider context to the public finance issues the country is facing and discusses possible paths forward to resolve them.
Prime Minister Sébastien Lecornu resigned this Monday, leaving France again without a government. However, the National Assembly had to consider in the coming days the so controversial 2026 draft budget. Will France be forced not to have a budget on 1 January? - After Lecornu's resignation, can the 2026 budget still be voted on in time? (Policy).
Explainer-Why French government's resignation pushes 2026 budget into danger zone
PARIS - Fraught French budget negotiations have claimed a third prime minister's scalp in less than a year, and only days before the government was due to submit its 2026 budget bill to parliament. Read more at straitstimes.com.
He will have occupied Matignon for 27 days. Sébastien Lecornu handed over his resignation to Emmanuel Macron Monday, October 6. Meanwhile, the preparation of the 2026 budget is again delayed while the text is expected in mid-October in Parliament.
DECRYPTAGE - According to the legislation, the finance bill is to be introduced "before the first Tuesday of October", that is Tuesday 7.
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