Mass Protests Rock France After Sebastien Lecornu Emerges New PM

The New Diplomat
Writer

Ad

NUPENG dues is N7,000 not N54,000, By Owei Lakemfa

By Owei Lakemfa I have, given my experience as a retired labour leader, journalist, patriot and human rights activist, risen in the last few weeks to defend the fundamental rights of workers in the oil industry. I did this because I cannot fold my hands as Dangote Plc dumps huge funds on the mass and…

Ranked: Gas Prices Around the World in 2025

Key Takeaways Fuel prices in Hong Kong rank as the highest globally, at $3.07 per liter in 2025. Several European cities rank among the world’s most expensive for gasoline, driven by energy supply shocks. Riyadh, Saudi Arabia has seen the fastest price increase since 2020 across 69 cities analyzed, with fuel costs up nearly 49%.…

Oil Prices Edge Higher After Steep Two-Day Selloff

Oil prices recovered slightly in early Asian trading on Wednesday after two straight sessions of steep declines, as traders weighed the prospect of a larger OPEC+ output increase against signs of tighter U.S. crude inventories. At the time of writing, Brent futures for December delivery had climbed to $66.17 while WTI was trading at $62.50, up 0.21% on the…

Ad

By Obinna Uballa

Mass protests have erupted across France just a day after Sébastien Lecornu was appointed prime minister of the European country, underscoring the political turmoil engulfing Emmanuel Macron’s government.

The grassroots “Bloquons tout” (“Let’s Block Everything”) movement mobilised thousands of disgruntled citizens on Wednesday to paralyse the country, reports said, urging supporters to blockade transport hubs, public buildings, and essential services in a show of defiance against what it called France’s “messy state of affairs.”

By mid-morning, Paris police confirmed at least 75 arrests, while images showed chaotic scenes, including protesters jumping onto police cars outside the Helene Boucher high school in the capital.

Civil disobedience actions were reported in several cities, with demonstrations timed to coincide with the formal handover of power from outgoing premier François Bayrou to Lecornu, according to CNBC.

The protests mark a fiery baptism for Lecornu, a 38-year-old Macron loyalist and former defence minister who becomes France’s fifth prime minister in less than two years. His predecessor, Bayrou, resigned on Tuesday after losing a confidence vote in the National Assembly, where his unpopular 2026 budget plan, anchored on spending cuts and tax rises, was rejected.

Lecornu now faces what analysts describe as a “poisoned chalice”: leading a fragile minority government vulnerable to both far-right and far-left opposition, while financial markets and the European Union press France to rein in its soaring debt. The country’s budget deficit hit 5.8% of GDP in 2024, with public debt swelling to 113% of GDP, well above EU thresholds.

“There were no signs last night that this task will become easier,” Deutsche Bank strategists warned, noting that both the far-left and far-right are demanding snap elections, while the centre-left Socialists declared they will not support Macron’s path.

Markets offered only muted relief at Lecornu’s swift appointment. France’s CAC 40 rose 0.6% in early Wednesday trading, while 10-year bond yields dipped slightly to 3.47%. But attention now turns to Fitch’s credit rating review on Friday, with investors wary of a possible downgrade from France’s current AA- rating.

Kristoffer Kjær Lomholt, director of FX and rates strategy at Danske Bank, said Fitch may hold off until Lecornu’s new budget plan is unveiled but stressed that “a tough job awaits the new premier, gathering support for the 2026 budget, which includes significant spending cuts.”

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp