French PM François Bayrou submitted his resignation on Tuesday after losing a confidence vote in parliament. He had gambled on a budget demanding over €40 billion in savings. The plan would have frozen welfare benefits, cut 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 pick up the mantle of trying to pass a budget through a divided parliament. So where does the country’s economy stand now? Charles Pellegrin discusses this and more with Alexandra Roulet, associate professor of economics at INSEAD.
This story originally appeared on France24
Another prime minister gone in France: How a budget deficit became a political crisis
