Another prime minister gone in France: How a budget deficit became a political crisis

French PM François Bayrou submitted his resignation on Tuesday after shedding a confidence vote in parliament. He had gambled on a price range demanding over €40 billion in financial savings. The plan would have frozen welfare advantages, lower civil-service jobs and scrapped two public holidays. President Emmanuel Macron then named Sébastien Lecornu, a longtime ally, as France’s new prime minister to choose up the mantle of attempting to go a price range by means of a divided parliament. So the place does the nation’s financial system stand now? Charles Pellegrin discusses this and extra with Alexandra Roulet, affiliate professor of economics at INSEAD. 



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