US Dollar Retreats Amid US-Iran Ceasefire Developm
The US dollar is set to decline this week as positive news on US-Iran ceasefire eases safe-haven dem
French President Emmanuel Macron on Monday accepted Prime Minister Sebastien Lecornu’s resignation, just hours after unveiling his new cabinet, the Élysée Palace confirmed. The move deepens political uncertainty in France as the government struggles with a divided parliament and record public debt.
Lecornu, a former defence minister, had been appointed prime minister last month. However, his largely unchanged cabinet, presented late Sunday, drew sharp criticism across the political spectrum.
The prime minister faced the formidable challenge of securing parliamentary approval for a proposed austerity budget for 2026. His two immediate predecessors, Francois Bayrou and Michel Barnier, were both dismissed by the legislature over disagreements on the spending plan.
Official data released last week shows France’s public debt has reached record levels, with the debt-to-GDP ratio now the EU’s third highest after Greece and Italy—nearly double the 60 percent ceiling set by EU rules.
Unlike previous administrations, which pushed annual budgets through parliament without a vote—a constitutional provision heavily criticized by the opposition—Lecornu pledged last week to allow lawmakers to vote on the bill.
France has faced political deadlock since Macron’s gamble on snap parliamentary elections last year, which aimed to strengthen his authority but instead left his supportive bloc in a minority in the assembly.
The US dollar is set to decline this week as positive news on US-Iran ceasefire eases safe-haven dem
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