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PM Castex Resigns, BFMTV Reports Labour Min. Borne To Be Successor

FRANCE
markets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed IncomeForeign ExchangePolitical Market News

French Prime Minister Jean Castex has tendered his resignation to President Emmanuel Macron, who has accepted the resignation and is set to appoint Castex's successor later this evening.

  • Castex's resignation was largely expected, with a new PM set to lead the Macron-supporting 'Ensemble!' alliance into the 12/19 June parliamentary elections. Castex stated before the April presidential election that his gov't would resign if Macron won the election to allow a reshuffle that could provide 'fresh impetus' to the governing La Republique En Marche.
  • BFMTV reports that Minister of Labour, Employment and Integration Elisabeth Borne has been named as Castex's successor. If true, Borne would become France's first female PM.
  • Borne was a long-time member of the centre-left Socialist Party (PS), having served as private secretary to then Minister of Ecology, Sustainable Development and Energy and 2007 PS presidential nominee Segolene Royal.
  • Borne's appointment would mark a shift in leadership of the gov't. The two previous PMs (Castex and Edouard Philippe) both hailed from the centre-right Les Republicains before joining Macron's camp. Appointment of Borne could be an attempt to win centrist and centre-left voters considering voting for the leftist NUPES alliance (which includes the Socialists) in the parliamentary election.
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French Prime Minister Jean Castex has tendered his resignation to President Emmanuel Macron, who has accepted the resignation and is set to appoint Castex's successor later this evening.

  • Castex's resignation was largely expected, with a new PM set to lead the Macron-supporting 'Ensemble!' alliance into the 12/19 June parliamentary elections. Castex stated before the April presidential election that his gov't would resign if Macron won the election to allow a reshuffle that could provide 'fresh impetus' to the governing La Republique En Marche.
  • BFMTV reports that Minister of Labour, Employment and Integration Elisabeth Borne has been named as Castex's successor. If true, Borne would become France's first female PM.
  • Borne was a long-time member of the centre-left Socialist Party (PS), having served as private secretary to then Minister of Ecology, Sustainable Development and Energy and 2007 PS presidential nominee Segolene Royal.
  • Borne's appointment would mark a shift in leadership of the gov't. The two previous PMs (Castex and Edouard Philippe) both hailed from the centre-right Les Republicains before joining Macron's camp. Appointment of Borne could be an attempt to win centrist and centre-left voters considering voting for the leftist NUPES alliance (which includes the Socialists) in the parliamentary election.