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France has a new prime minister, François Bayrou, who has appointed Eric Lombard, the leader of the state-backed financial institution, Caisse des Dépôts, as the finance minister. Lombard now faces the crucial task of crafting the nation’s budget for the upcoming year.
The change in leadership comes after Bayrou’s predecessor, Michel Barnier, lost his position due to a no-confidence vote in parliament earlier this month. Barnier’s attempts to implement a budget aimed at reducing the deficit were met with stiff resistance from both the left-wing and far-right factions.
On Monday evening, the list of members serving in Bayrou’s cabinet was disclosed after a series of intense discussions between him and President Emmanuel Macron. The president formally appoints ministers following recommendations from the prime minister.
Stay tuned as this story continues to unfold.
