France’s Barnier makes last-minute concession to far right in bid to avoid being toppled

French Prime Minister Michel Barnier made another significant concession to Marine Le Pen’s far-right National Rally (RN) on Monday, shelving planned cuts to medication reimbursements in a last-ditch effort to secure passage of the 2025 budget bill.

Barnier’s office confirmed he spoke with Le Pen ahead of a critical parliamentary vote later in the day, as both the RN and left-wing parties threatened to use the vote to bring down his government.

This marks the second major concession to the RN in recent weeks, following Barnier’s decision to scrap a proposed €3 billion electricity price hike. The news boosted French stocks and lowered the yield on the country’s 10-year bonds.

Barnier’s struggle to pass the budget in a divided parliament risks plunging the eurozone’s second-largest economy into another political crisis, underscoring the instability gripping many EU capitals. His minority government, formed in September, has relied on RN backing to survive.

via Reuters