David McNamara: French upheaval a reminder that Eurozone fiscal risks haven’t gone away
The announcement of a confidence motion on September 8 by prime minister François Bayrou has rattled the political system and created some tremors in European financial markets. Picture: Abdul Saboor, Pool via AP
Following a relatively calm period in Europe of late, as attention focused on events in the US and Middle East, political risks have come to the fore once more in France.
The announcement of a confidence motion on September 8 by prime minister François Bayrou has rattled the political system and created some tremors in European financial markets. With the minority government at risk of collapse, attention will now focus on the ability of this or a future administration to push through the cuts needed to bring France’s deficit back to a sustainable path.
