France's 2025 Budget Crisis

This is a France news story, published by CNBC, that relates primarily to Michel Barnier news.

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National Rally

CNBC

•

Negotiate on the budget or we'll bring you down, France's far right tells government

Summary

Nutrition label

77% Informative

National Rally (RN) has failed to extract concessions from the conservative minority government, led by Michel Barnier , on the budget that involves 60 billion euros ( $63 billion ) worth of tax hikes and spending cuts.

RN has said that if there is no breakthrough on Monday , it is highly likely to support a no-confidence vote that the leftwing New Popular Front (NFP) alliance said it has already drafted against the minority government.

France needs years of substantive fiscal tightening to get a primary surplus, an economist says.

Further multi-year fiscal tightening unlikely before the next parliamentary election from July 2025 and perhaps the presidential election in 2027 .

If the budget fails to pass, Europe 's financial markets would see heightened volatility, he says.

VR Score

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Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language