Speaking at a press conference on Tuesday, Bayrou described Trump’s foreign policy decisions and tariffs as “a hurricane shaking global alliances and trust.” Referring to his controversial meeting with Ukrainian President Volodymyr Zelenskyy in the Oval Office in February, he said, “As if war wasn’t enough, we are facing a tsunami of instability shaking the planet.”
Bayrou stated that France is vulnerable to global uncertainty due to its rising debt levels and larger budget deficits compared to other European countries. By 2024, France’s budget deficit is projected to reach 5.8% of GDP.
Former Prime Minister Michel Barnier was dismissed for failing to pass a stricter budget for 2025. Bayrou stated that they would not further increase France’s already high tax burden, but did not provide clear details on spending cuts. He only said they would accelerate budget negotiations and planned to finalize the 2026 budget proposal by July 14. The goal is to reduce the budget deficit to 5.4% this year and, in the long term, reach the EU’s 3% deficit limit by 2029. Bayrou’s minority government, formed after President Emmanuel Macron’s failed decision to call early elections last year, is heavily dependent on the support of the Socialist Party. However, the Socialists warned that they would withdraw their support if the country’s wealthiest segment was not asked to contribute to the budget deficit reduction plans.
