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Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter.
President Emmanuel Macron has chosen certainly one of his earliest allies, the centrist politician François Bayrou, as his fourth prime minister this 12 months as he seeks to stabilise political turmoil in France.
The 73-year-old veteran combines a market-oriented view of the economic system with help for social justice measures similar to taxing the rich.
Bayrou has additionally referred to as for extra energy to be devolved from Paris to the remainder of the nation.
His nomination got here after an almost two -hour lengthy assembly on the Elysée Palace, which was stated to be tense and led Macron to rethink different names on the final minute.
Bayrou’s very long time alliance with Macron might show an irritant to the opposition in France’s raucous hung parliament.
His predecessor, Michel Barnier, a former Brexit negotiator, was toppled final week by the Nationwide Meeting after just below three months in workplace. Barnier fell in a no-confidence vote over his proposed deficit-cutting finances.
Bayrou will face the identical difficulties in navigating a parliament divided into three irreconcilable blocs, and passing a finances for subsequent 12 months.
France is underneath stress to slim its deficit, which can stand at 6 per cent of nationwide output by the top of the 12 months — far above the EU restrict of three per cent of GDP.
This can be a growing story
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