PARIS, Oct 6 (Reuters) - France’s new Prime Minister Sebastien Lecornu and his government resigned on Monday, hours after Lecornu announced his cabinet line-up, making it the shortest-lived administration in modern French history and deepening the country’s political crisis.
The unexpected resignation came after allies and foes alike threatened to topple the new government, with Lecornu saying that meant he could not do his job. The announcement drove stocks and the euro sharply lower.
Man, I wish it worked this way in the US when I threaten to topple the government!!
The US is self toppling. Give it a another year. Cooking the books doesn’t work when you’re leveraged beyond what you can cook.
How do you have multiple quarterly earnings at -40%+ and still go up!? The stock market is make belief and bullshit that my retirement is tied to it…
Welcome to NASDAQ. Where everything is made up and the points don’t matter. That’s right folks, the points are like TSLA’s earnings, completely meaningless.
The AI bubble is 4x subprime mortgage. I already have the title of the next movie: The Big Shart.
The government has been in various stages of collapse ever since the leftist won big and Macron allied with the right to prevent them from taking power.
This is just yet one more item of fallout.
…who could have possibly seen this coming?..
Dear America: please take notes.
We cant decide what to do with the notes afterward.
To give a bit of context :
- the previous government (prime minister and the other ministers) drafted a budget proposal last summer that was widely unpopular among the population and most deputies in the national assembly.
- the previous prime minister asked for a vote of confidence, lost the vote of confidence so the whole government resigned
- Macron appoints a new prime minister, this new prime minister promises a new policy line that will break with the old government.
- After 26 days, the new prime minister reveals the name of the new ministers that will form the new government. It’s mostly the same names as before.
- 15 hours later he resigned, so the new government is dissolved.
That is the good and the bad with French politics.
On the one hand, if the French government tries to f-ck up the people, those people put down the whole country in no time. Sometimes it looks like they have a general strike set up within five minutes.
On the other hand, when they actually need painful reforms (like the do now), it’s the same.
