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Just before the holidays, the president and prime minister of France successfully created a new administration, but the country still confronts many challenges.

Growing Financial Stress

Addressing France’s crippling debt and approving a budget for 2025 are among the most urgent concerns. Financial markets, rating agencies, and the European Commission are pleading with France to lower its deficit in order to comply with EU requirements and preserve stable borrowing prices, as the country’s debt is estimated to be 112% of GDP.

Following Russia’s invasion of Ukraine, COVID-19 relief measures and energy price restrictions caused France’s debt to increase. The previous government fell because far-right and left-wing MPs opposed the original budget plan, which called for €60 billion in tax increases and cuts.

“The more we are indebted, the more the debt costs, and the more it suffocates the country,” said Eric Lombard, the new finance minister, in acknowledgment of the difficulties.

Instability in Politics

The fact that this is France’s fourth government in a year underscores the precarious political climate. The backing of center-left and center-right lawmakers is essential to the current Cabinet.

The far-right politician Marine Le Pen, who played a crucial role in overthrowing the previous administration, is still a significant political force. However, despite their great electoral success, left-wing groupings feel marginalized as a result of her influence.

Although its conclusion is yet unknown, a fresh no-confidence vote is a real possibility.

The Role of President Macron

Despite the chaos, President Emmanuel Macron has stated that he intends to remain in office until 2027 in accordance with the stability-oriented framework of the Fifth Republic. However, more pressure for early elections can result from ongoing political stalemate and government breakdowns.

Despite its goal of defeating Macron, Le Pen’s National Rally may encounter obstacles, like as a March court decision over alleged unlawful party funding that could prevent Le Pen from contesting for office.

Security and Legislative Priorities

The government has differing opinions on immigration laws. While Prime Minister Francois Bayrou stresses upholding current laws, far-right Interior Minister Bruno Retailleau calls for tougher regulations.

• Military Spending: With European security worries, defense is still crucial. Defense Minister Sebastien Lecornu is in favor of boosting arms manufacturing and providing Ukraine with more military assistance.

In order to speed up reconstruction in Mayotte, a French territory ravaged by a cyclone, Macron intends to enact an emergency statute in January.

International Difficulties

The difficulties facing the new Cabinet are exacerbated by the dissolution of the administration in New Caledonia as a result of the resignations of pro-independence leaders. Incoming Overseas Affairs Minister Manuel Valls will prioritize managing overseas territories.

With political unpredictability, economic stress, and pressing local and global issues, France is currently at a turning point.

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Source : apnews

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