"I learned a new French word on Monday. Francois Bayrou, like King Louis XV, predicted that his demise would unleash boundless chaos. Bayrou didn't say: Apres moi le deluge, he said that France faces a tohu-bohu - a word of Old Testament origin meaning a formless world incompatible with life. The next few days and week may indeed seem tohubohuesque."
"President Emmanuel Macron will scramble to find his fifth Prime Minister in three years. If he loses yet another one, he will be obliged to call another parliamentary election, which might bring an irresponsible, dishonest and incompetent Far Right to power. The urban guerrilla Left, and others, plan to block France on Wednesday and indefinitely. No one knows what that means but it is bad news for scores of innocent shop-fronts and bus shelters."
"On Friday, the Fitch ratings agency will almost certainly downgrade the 3.4 trillion of French sovereign loans, which now match Italy as the most expensive debt to service in the Eurozone. On Thursday of next week, the more militant French unions have called strikes against a prime minister and a deficit-cutting budget plan which no longer exist. The strikes will go ahead all the same."
France faces acute political instability after the fall of another government and a warning from Francois Bayrou of a 'tohu-bohu'—a formless, chaotic state. President Emmanuel Macron must find a fifth prime minister in three years or call fresh parliamentary elections that could empower the far right. Street blockades by radical left groups and planned indefinite disruptions threaten shops and public infrastructure. Financial risk is rising, with Fitch likely to downgrade €3.4 trillion of sovereign debt. Militant unions have scheduled strikes against a defunct prime minister and a deficit-cutting budget, and those strikes are expected to proceed regardless. The coming weeks look volatile.
Read at www.thelocal.fr
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