The Japan Times - Embattled French PM faces clutch day in parliament

EUR -
AED 4.095102
AFN 72.480008
ALL 90.801688
AMD 402.807486
ANG 1.995737
AOA 1023.635334
ARS 1721.721299
AUD 1.61933
AWG 2.007127
AZN 1.900047
BAM 1.955836
BBD 2.250342
BDT 139.162586
BGN 1.948955
BHD 0.422108
BIF 3342.96213
BMD 1.115071
BND 1.431727
BOB 13.402249
BRL 6.138357
BSD 1.117321
BTN 104.873949
BWP 15.391286
BYN 3.345962
BYR 21855.38619
BZD 2.247142
CAD 1.573644
CDF 2586.964483
CHF 0.914162
CLF 0.027822
CLP 1094.980351
CNY 7.444774
CNH 7.438418
COP 3608.76707
CRC 506.709417
CUC 1.115071
CUP 26.815498
CVE 110.267049
CZK 24.346956
DJF 198.963698
DKK 7.480457
DOP 67.891262
DZD 151.940824
EGP 59.957114
ERN 16.726061
ETB 183.378708
FJD 2.526309
FKP 0.834974
GBP 0.834166
GEL 2.893653
GGP 0.834974
GHS 13.055243
GIP 0.834974
GMD 83.077063
GNF 9896.183924
GTQ 8.538159
GYD 234.234353
HKD 8.744429
HNL 30.029558
HRK 7.547925
HTG 146.432722
HUF 363.51345
IDR 20192.258205
ILS 3.552538
IMP 0.834974
INR 104.716854
IQD 1693.83148
IRR 2108992.359359
ISK 136.919964
JEP 0.834974
JMD 177.323296
JOD 0.790629
JPY 176.710877
KES 145.192698
KGS 97.510486
KHR 4552.084602
KMF 492.86165
KPW 1003.563608
KRW 1520.737678
KWD 0.346765
KYD 0.931217
KZT 500.809308
LAK 25136.46717
LBP 100053.859534
LKR 371.556906
LRD 189.94353
LSL 18.477643
LTL 3.292514
LVL 0.674496
LYD 7.150133
MAD 10.921803
MDL 19.971371
MGA 5077.094359
MKD 61.556144
MMK 2341.587311
MNT 4015.514918
MOP 9.019368
MRU 45.108838
MUR 52.442198
MVR 17.176258
MWK 1937.436008
MXN 20.766565
MYR 4.528864
MZN 71.257178
NAD 18.477643
NGN 1502.23485
NIO 41.120764
NOK 10.548462
NPR 167.798119
NZD 2.015128
OMR 0.428348
PAB 1.117421
PEN 3.848972
PGK 5.092095
PHP 70.369926
PKR 309.016043
PLN 4.399568
PYG 6984.129802
QAR 4.084276
RON 5.343646
RSD 117.622186
RUB 91.352798
RWF 1649.13065
SAR 4.188587
SBD 8.974739
SCR 15.358485
SDG 670.719139
SEK 11.033072
SGD 1.430306
SHP 0.835103
SLE 25.591287
SLL 23382.48045
SOS 638.511867
SRD 41.908265
STD 23079.712667
STN 24.500455
SVC 9.776182
SYP 14498.149201
SZL 18.471343
THB 37.411034
TJS 10.307092
TMT 3.902748
TND 3.343362
TOP 2.684822
TRY 55.9111
TTD 7.577141
TWD 36.546782
TZS 2952.454872
UAH 50.616941
UGX 4570.084937
USD 1.115071
UYU 44.950835
UZS 13332.247784
VES 999.456181
VND 28526.296796
VUV 132.393741
WST 3.108622
XAF 655.957
XAG 0.021465
XAU 0.000274244363
XCD 3.013535
XCG 2.013637
XDR 0.788413
XOF 655.957
XPF 119.331742
YER 263.853652
ZAR 18.420333
ZMK 10036.978597
ZMW 22.703422
ZWL 359.052318
SSP 6406.340367
MXV 2.33632
  • RYCEF

    0.1000

    19.81

    +0.5%

  • VOD

    -0.2500

    16.33

    -1.53%

  • CMSC

    -0.2800

    20.12

    -1.39%

  • RBGPF

    -2.0000

    65

    -3.08%

  • RIO

    -0.2500

    94.16

    -0.27%

  • BTI

    -1.2000

    54.85

    -2.19%

  • NGG

    -0.3000

    74.94

    -0.4%

  • GSK

    -0.3500

    49.35

    -0.71%

  • BCE

    -0.4200

    20.14

    -2.09%

  • CMSD

    -0.3400

    19.93

    -1.71%

  • BP

    -0.9100

    43.52

    -2.09%

  • RELX

    0.1700

    33.24

    +0.51%

  • BCC

    -0.6200

    75.97

    -0.82%

  • AZN

    -1.9400

    164.21

    -1.18%

  • JRI

    0.0000

    10.77

    0%

Embattled French PM faces clutch day in parliament

Embattled French PM faces clutch day in parliament

Embattled French Prime Minister Sebastien Lecornu will give a high-stakes speech Tuesday to a deeply divided parliament, a day after President Emmanuel Macron blamed opponents for plunging the country into "chaos".

Text size:

France, the eurozone's second-largest economy, is in a deep political crisis that has spooked markets and raised concern about its minority government's ability to govern and ease the country's debt burden.

After an extraordinary week of political drama, which saw Lecornu resign on October 6 only to be re-appointed by Macron on Friday, the 39-year-old prime minister urged his new cabinet on Monday to do everything to help France overcome the deadlock.

"I am counting on you to show the utmost restraint and humility," Lecornu, the seventh prime minister of Macron's mandate, told his new cabinet.

"Service is something that requires putting egos aside," said Lecornu, on the eve of a key policy speech to parliament, where he faces threats of censure.

Lecornu addressed the cabinet following a low-key handover ceremony, which took place without journalists.

Macron's perceived refusal to bring in new faces has enraged the opposition, with the hard-left France Unbowed party and far-right National Rally threatening to topple Lecornu's new cabinet, which was unveiled late Sunday.

Lecornu's two immediate predecessors were ousted in a standoff over an austerity budget, and his immediate task is to put together a 2026 budget plan.

- 'Everyone's duty' -

The new cabinet is expected to present a draft budget on Tuesday that aims for a deficit below five percent of GDP, according to new government spokesperson Maud Bregeon.

The cabinet must give parliament the constitutionally required 70 days to scrutinise the plan before the end of the year.

In recent days, Macron has come under unprecedented pressure. Some opposition leaders are urging him to call snap elections or resign, and even key allies such as former prime minister Edouard Philippe have distanced themselves from the 47-year-old president.

Macron sought to shift all responsibility for the turmoil to political rivals as he travelled to Egypt to attend a summit on ending the Gaza war and highlight his diplomatic credentials.

"The political forces that have instigated the destabilisation of Sebastien Lecornu are solely responsible for this chaos," Macron told reporters upon arrival in Egypt, where he rubbed shoulders with US President Donald Trump and other world leaders.

"It is everyone's duty to work towards stability," Macron said.

He added before boarding his plane home: "I have confidence everyone will show a spirit of responsibility to get this done."

Political jockeying in France has been intensifying ahead of the 2027 presidential election.

Macron, who is enduring his worst-ever popularity levels, has vowed to serve out his second and final term.

- Pension reform under attack -

Many opponents and political analysts blame the French president for the current gridlock. In mid-2024, he called snap elections to stave off the march of the far right, but his gamble backfired.

Macron's centrist camp lost its majority, while parliament's lower house, the National Assembly, is now divided into three distinct blocs.

French daily Le Monde said in an editorial that Macron was on dangerous ground.

"The head of state is taking the risk of turning this major political crisis into a lasting institutional deadlock, and thus into a crisis of the regime," the newspaper said.

The leftist Socialists, a swing group, warn they may also vote against the government unless Lecornu backs off from a controversial 2023 pension reform that raised the retirement age from 62 to 64.

Socialist leader Olivier Faure said his party demanded an "immediate, complete" suspension of the pension reform.

The right-wing Republicans, once a key political ally of Macron, have meanwhile said they would only cooperate with the government on a "bill-by-bill" basis.

Macron declined on Monday to speculate on a possible dissolution of parliament in case of another government failure.

"I'm not making any bets," he said. "I want the country to move forward."

burs-as/ah/rmb/jhb/ach

M.Yamazaki--JT