September 06, 2024 08:40 GMT
Focus Shifts To Gov't Formation As NFP Promises Censurve Vote On Barnier
FRANCE
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsPolitical Market News
Following the appointment of former foreign minister Michel Barnier as PM on 5 Sep, focus will now turn to the efforts of Barnier and President Emmanuel Macron in putting together a new cabinet. Under Article 8 of the French constitution, it is the president who has the power to appoint gov't ministers, but has to do so "on the proposal of the prime minister." This means the two will have to work together on cabinet appointees and meet today at around 1200CET. Until then, the current cabinet remains in place in a caretaker capacity.
- There is no deadline to put together a cabinet. For former PM Elisabeth Borne it took four days. For the outgoing PM Gabriel Attal he appointed senior ministers within two days but then a slew of junior ministers a month later.
- The left-wing New Popular Front (NFP) alliance has promised a censure vote in the National Assembly in an effort to force the far-right Rassemblement National (RN) to either back the Barnier gov't, abstain, or vote against it.
- If the RN votes against the gov't then it falls. If it abstains then the vote would come down to the actions of smaller groups such as the Liberties, Independents, Overseas and Territories (LIOT), giving them significant negotiating power. If the RN backs the Barnier gov't then the administration will remain in place, but could face a major political backlash for being 'in league' with the far-right.
239 words