PARIS – French Prime Minister François Bayrou has issued a stark warning that France must urgently rein in its budget deficit to shield itself from a wave of global instability driven by a belligerent Russia and escalating trade tensions with the United States.
Speaking at a press conference on April 15, Bayrou described the current global environment as a “tsunami of destabilisation,” intensified by U.S. President Donald Trump’s aggressive tariffs and diplomatic rupture with long-standing allies.
“The U.S. President has unleashed a storm whose aftershocks will be felt for years,” Bayrou said, calling out Trump’s February meeting with Ukrainian President Volodymyr Zelensky as emblematic of a world order upended by shifting alliances and rising unpredictability.
His comments mark a rare and unusually forceful stance from a French leader, especially as President Emmanuel Macron maintains a more measured tone on international affairs. Bayrou’s remarks come as his minority government prepares to battle over the 2026 budget — a critical test for political survival following his predecessor Michel Barnier’s ouster in December 2024 over failed fiscal reforms.
While Bayrou emphasized the urgency of fiscal discipline, he stopped short of providing specific spending cuts. However, he ruled out any increase in France’s already high tax burden and pledged to conclude budget consultations before the Bastille Day holiday on July 14 — months earlier than the typical September timeline.
Positioning the country’s mounting debt as a strategic liability, Bayrou stressed that France must begin to close its fiscal gap — currently one of the widest in the EU. The deficit stood at 5.8% in 2024, and the government aims to reduce it to 5.4% in 2025, with a longer-term goal of returning to the EU’s 3% threshold by 2029.
Bayrou’s government, fragile after Macron’s failed attempt to secure a majority in early elections last June, relies heavily on cooperation from the Socialist Party. Yet, Socialists have warned they could withdraw support unless budget cuts also target the wealthy.
With global uncertainty mounting and domestic political pressures rising, Bayrou now faces the delicate task of delivering fiscal credibility without fracturing the alliance propping up his government.