UBS On-Air: Paul Donovan Daily Audio 'Barnier falls'
UBS On-Air: Market Moves · Podcast owner
December 5, 20242m 7s
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Show Notes
As expected, French Prime Minister Barnier lost a vote of confidence. That was the shortest-lived French government in over sixty years (he did outlast the lifespan of une salade verte, however). The likely options for fiscal policy are either a compromise budget under the new government, or rolling the 2024 budget into 2025. Neither offers much fiscal consolidation, but investors know this already.