Bayrou Takes on Budget Challenge as France's New Prime Minister

Francois Bayrou, appointed as France's fourth prime minister this year, is set to meet parliamentary leaders starting with far-right figurehead Marine Le Pen. His key task is to navigate a complex 2025 budget through parliament, after Michel Barnier's failed efforts led to his resignation.

Francois Bayrou steps into the role as France's prime minister, becoming the fourth individual to hold the position this year. His immediate focus will be on discussing the 2025 budget with parliamentary leaders, beginning with Marine Le Pen of the far-right Rassemblement National, according to his statements in La Tribune Dimanche.

Bayrou's strategic meetings, ordered by party size, come after President Emmanuel Macron's snap election, where Le Pen's party won the most seats without securing a majority. The leftist New Popular Front remains the largest bloc in the parliament.

Bayrou has pledged a dual role of 'builder' and 'repairman,' aiming to pass fiscal reforms that stalled under his predecessor, Michel Barnier. Barnier's proposal to increase taxes on corporations faced resistance, leading to his eventual resignation. Meanwhile, Moody's has downgraded France's credit rating, anticipating ongoing challenges in reducing the national deficit.

(With inputs from agencies.)