French Prime Minister François Bayrou submitted his resignation to President Emmanuel Macron today, Tuesday, the day after his government was overthrown in the French National Assembly.

Bayrou will continue in his duties pending the appointment of his successor, who will be the fifth prime minister since Macron's five-year term begins in 2022.

The developments are unprecedented in France, which is renowned for its political stability, but has entered an unprecedented political crisis following the dissolution of parliament in June 2024. The country is also at risk of facing a fiscal crisis.

Emmanuel Macron is now being called upon to seek a resolution to the crisis within the coming days, according to the French presidency.

A puzzle that he has not been able to solve for a year: appointing a prime minister who will be able to survive in a fragmented parliamentary environment divided into three blocs: the alliance of the Left, the Center-Right and the Far Right.

The international press is expressing its concern. For the New York Times, France is currently in a state of chronic political instability. The Financial Times refers to a new political crisis that threatens to spread to the streets and the markets.

France is at risk of a major impasse, warns the Süddeutsche Zeitung, while for El Pais the French political crisis requires a rapid resolution that will not ignore the harsh truth about the fiscal situation as depicted by Bayrou.

The parties are entrenched in their positions

The French president's task is difficult since political parties remain entrenched in their positions.

The far-right National Alarm is calling for new parliamentary elections and is warning through its president Jordan Bardela about voting against any prime minister who does not depart from the policy that has been followed for eight years.

The Left is calling for the president's resignation.

The Socialist Party reiterates that the Left, the first parliamentary force after the last elections, must form a government.

However, the French president, for whom taxation of the richest remains taboo, will probably want to expand his centrist bloc and will look for a personality from the Right or Center capable of collaborating with the Socialists, according to his environment.

Many names are being floated, including Defense Minister Sébastien Lecorny, who comes from the Right. Labor and Health Minister Catherine Vautrin and Economy Minister Eric Lobar, who comes from the Socialist Party, are also among the possible choices.

The galloping debt

According to a regular interlocutor of Emmanuel Macron, the next prime minister will be appointed by the end of the week, before the French president's departure for New York where he will recognize the state of Palestine at the United Nations.

At the core of François Bayrou's massive disapproval (364 votes against, 194 in favor), the budget plan that foresees savings of 44 billion euros in 2026 with the aim of reducing France's debt, which has reached 114% of GDP.

In the debt market, France is now borrowing at 3.47% on a ten-year basis, just like Italy.

The political crisis erupts a few days before the announcement of the debt rating by the Fitch and the possible downgrade of France within the current context of political uncertainty that creates concern about turmoil in the markets.

Mobilizations

At the same time, the movement with the slogan Bloquons tout (Let's block everything) that was born through social networks this summer and is supported by certain unions and the radical left is calling for the paralysis of the country starting tomorrow.

Around 80,000 police and gendarmes will be deployed across France tomorrow, where dozens of protest events are being organized against Macron's policies, which are at the nadir of his popularity with 77% negative opinions, while the Civil Aviation Authority predicts problems and delays at all French airports.