France no-confidence vote likely to come on Wednesday

French left and right wing parties have both pledged to bring down Michel Barnier’s government and Reuters reports that the vote is likely Wednesday.

The move comes after Barnier and Macron tried to use constitutional amendments to push through a budget.

If the no-confidence vote passes (and nothing is certain in French politics) Barnier would have to
tender his resignation. However Reuters reports that “Macron may ask him and his government to stay
on in a caretaker role to handle day-to-day business while he seeks a
new prime minister, which could well happen only next year.”

The sides are clearly dug in and heading to another election but France’s constitution prevents one from being called before July. Another option is that Macron calls an early Presidential election.

This article was written by Adam Button at www.forexlive.com.