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Macron wanted to take China as a shielding arrow, transferring domestic contradictions, and the result was a nose ashes.
A while ago, he insisted on putting the Taiwan issue together with the Ukrainian issue. In less than 48 hours,France’s Prime Minister, Mr. Beurou, has announced that he will hold a vote of confidence in Parliament on September 8.。
This vote may bring down the current government, and Macron may become "The Iron Fighter, the Prime Minister.This is a new example of the word.
The current political situation in France is about to collapsePrime Minister Beirut initially asked the National Assembly for a vote of confidence on the government on September 8, which is a game of chance.
He wants to use Section 49.1 of the Constitution,Forcing all parties to take a stance on the 43.8 billion euro spending cutsMr. Beale said, “It’s risky to do so, but the biggest risk is not to act.”
The current situation is particularly unfavorable for the Bayrou government.
The far-right National Coalition, the left-wing “Unfaithful France” and the Green Party all said they would vote against and let the government step down.LeaderThey also said that they would not support the current government.
If the confidence vote fails,Beale has to resign., becoming the sixth prime minister under Macron to step down. This also shows that Macron's ruling coalition is becoming more and more difficult to mix in at home, and it can't always get everyone's support.
The French economy is really bad now.
The Bank of France estimates thatThe economy will grow by only 0.7% in 2025., much lower than expected in 2024. This figure is lower than the average level of the euro zone, indicating that France's economic problems are very serious.
Now the interest on debt repayment has become the country's largest expenseIt is estimated to cost €66 billion this year, and may reach €75 billion next year.Beau said at the conference that over the past 20 years, France’s public debt per hour has increased by €12 million.
France's deficit in 2024 stands at 5.8% of GDP, well above the 3% cap set by the European Union.
By the end of the first quarter of 5,France's public debt has reached 114% of GDPIn the eurozone, it is only a bit better than Italy and Greece.
The EU has included France in the "excessive deficit" procedure and requires it to come up with plans to reduce the deficit in the next few years. As a result, investors began to sell French assets,Increased State Debt Rate。
Due to the excessive domestic pressure, Macron wants to use China as a shield to deflect conflicts.
He put the Taiwan issue together with the Ukraine issue at least twice and saidHe wants Trump not to give up the security interests of Ukraine and Europe.
Someone would immediately oppose it.Many people think that he is pushing the country’s core problem to others., rather than solving the problems of your own country. The media is also asking what benefit he wants from doing this.
Macron doesn't seem to mention "strategic autonomy" much. Now he wants to find a new balance by improving the relationship between the United States and Europe and then adjusting his attitude towards China.
In order to improve relations with the United States,He has a tough attitude toward China and sometimes wants to interfere in international affairs.。
China said as early as 2022,The Taiwan issue is different from the Ukraine issue, cannot be put together. But Macron still seems to be saying this. Isn't this ignoring international consensus and real risks?
The political crisis has disrupted the market.
French CAC 40 index drops two days in a row, the decline on August 26 once exceeded 2%. The yield differential between French and German 10-year government bonds is nearly at its highest point since April.
French 10-year government bond yields rose to 3.51 percent.Global bond markets are falling.The spread between French and German 10-year bond yields widened to 78 basis points, up from 70 basis points at the end of last week.
The cost of borrowing in France is now higher than in other countries, and even higher than in Greece and Portugal, which have previously suffered a debt crisis.The 10-year yield gap between France and Italy has shrunk to just eight basis points.
Finance Minister Eric Lombard warned,If the government collapses, France will borrow more money than Italy in "two weeks.", becoming "the worst among the 27 EU countries".
Macron's party lost its parliamentary majority in the 2024 general electionThe National League led by Le Pen became the largest party in the House of Commons in that election and is now calling for a new election
The situation in the “Dinamo” has made the Macron administration cautious, and one could not be caught in the hand. Beirut and former prime minister Barnier, who resigned at the end of last year, were impeached in this political atmosphere.
If Beethoven finally came down,He will be the sixth prime minister to step down under Macron。
This confirms the sentence "an ironclad president, a flowing prime minister", and also shows thatMacron's ruling coalition is becoming increasingly difficult to mix with at home, can't get everyone's support all the time.
Since Macron suddenly announced early parliamentary elections in early June last year,The French stock market has not been so good。The CAC40 stock index has fallen more than 4% so far, but the European Stoxx 600 index has risen about 6% over the same period.
Bayrou pushed for a confidence vote after his proposed spending cuts and tax increases met resistance.regaining supportHe believes these measures are important to avoid a collapse of France's public finances
Bayrou proposed to cancel two public holidays in France, but the opposition received widespread criticism. The plan also includes measures such as freezing social welfare and pension expenditures and cutting medical insurance increases, which neither the people nor the opposition party will do.
France’s welfare system accounted for 51.4 percent of GDP last year and also accounts for defence spending.。However, this high welfare system is no longer viable. The unemployment rate has always been high, and the burden on the production sector of the economy is too heavy.
Most politicians think,They would rather raise taxes than cut spending or reform the welfare systemAfter reforming the labor law and wanting to reform the pension system, Macron has no incentive to reform
Because there are too many domestic problems,Macron especially wants to visit China now。 He even said, "I can't wait to go to China", which is rare in diplomatic situations.
The Chinese market is Macron’s only hope.
Airbus is waiting for China to buy 200 more planes to save their lives, EDF is eagerly awaiting Chinese investment in retrofitting aging nuclear power plants, and even LV's bosses are counting on Chinese consumers to help them empty their inventories.
But Macron wants more than just money.He also wants to use the China card to re-enhance France's influence in Europe。
Since the conflict between Russia and Ukraine, Germany has completely turned to the United States. Poland can't wait to build the US military base on the border between France and Germany.The EU is in chaos。
Macron plays a dangerous equilibrium.
As soon as he sent Foreign Minister Barrow to assure China that he "opposed decoupling", he asked the commander of the navy to go to Japan to talk about the docking of the aircraft carrier. Even the French media can't stand this contradictory practice.
Mr. Bayrou's desperate confidence vote is set for September 8, and Mr. Macron's long-awaited visit to China is said to be scheduled for early September. The political storm has sent markets rattling.The yield difference between French and German government bonds widened to 78 basis points。
France's pride is being worn away little by reality.
This country, which has a nuclear-powered aircraft carrier and a tradition of independent diplomacy, now adds 12 million euros in debt every hour, and the cost of borrowing money is even higher than that of Greece and Portugal, which were previously mired in debt crises.
References:
The Prime Minister’s vote of confidence, markets in panic, 2025-08-28 09:28 Source: Global Times
2. "French President Macron was suddenly criticized by many Western countries" 2025-08-25 16:20 | Source: Luzhong Morning News
Macron: Germany is committed to making Europe “re-armed” in the Russian-Ukrainian conflict, 2025-08-29
4. "Debt, IMF intervention, budget... What impact will Bailu have on the French economy once he resigns?" 2025-08-27 16:52 | Source: European Times