Political Instability or Strategy? Macron’s Fourth Prime Ministerial Choice in a Year
President Emmanuel Macron has appointed François Bayrou as France’s fourth prime minister in 2024, following the ousting of Michel Barnier’s government due to a no-confidence vote.
Bayrou, a centrist politician and former presidential candidate, has previously served as Minister of Justice and Minister of Education. His appointment aims to stabilize France’s political landscape amid ongoing challenges.
In his new role, Bayrou has announced a cabinet that includes several former prime ministers and key political figures. Notably, Élisabeth Borne returns as Minister of Education, and Manuel Valls takes on the role of Minister for Overseas Territories.
The cabinet also features Éric Lombard, the head of the French state bank Caisse des Dépôts, who has been appointed as Minister of Economy and Finance.
Lombard’s leadership will be closely watched by markets as France faces increasing pressure to reduce its significant budget deficit amid ongoing political upheaval.
This government reshuffle comes after a period of political instability, including the dissolution of the National Assembly and the appointment of multiple prime ministers within the year.
The new cabinet is expected to focus on addressing France’s budgetary challenges and restoring political stability.