France’s Bayrou Plans to Call Confidence Vote Over Budget

French Prime Minister Francois Bayrou will call a confidence vote on Sept. 8, putting his government’s survival on the line in an effort to force political parties to take a position on his budget plan. The announcement prompted a selloff in domestic assets.

Bayrou told reporters at a press conference in Paris on Monday that President Emmanuel Macron had agreed to call parliament back into session early in order to allow the government to present its plan and to hold the confidence motion.