French parliament adopts special law to prevent government shutdown
French parliament adopts special law to prevent government shutdown
Cikk tartalma röviden
France's parliament has adopted a special law to address the absence of a budget for 2025 as newly appointed Prime Minister François Bayrou prepares to form a government. The law allows the executive to levy taxes and borrow to finance essential functions. Bayrou faces significant challenges in managing the country's deficit and debt, with pressure from the EU and financial markets. Former PM Barnier's budget proposal was rejected, and Bayrou's immediate focus will be on emergency legislation for the 2024 budget. French banking stocks fell following Moody’s downgrade of several banks amid political instability.
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Negatív kontextus
huge, souring, political turmoil
Központi kifejezések
special, emergency, core