French FinMin Armand: Country is at a turning point

French Finance Minister Antoine Armand said on Tuesday that the “country is at a turning point.”

He further noted that “French politicians have a responsibility not to plunge the country into uncertainty.”

His comments come as Prime Minister Michel Barnier, appointed by President Macron after July’s inconclusive parliamentary election, faces a no-confidence motion over the budget - a vote he will almost certainly lose, per BBC News.

Marine Le Pen’s far-right National Rally (RN) threatened to pull the plug on the fragile coalition government led by Prime Minister Barnier over the latter’s plan to rein in the massive French deficit.

Market reaction

The Euro remains vulnerable, leaving EUR/USD on the back foot below 1.0500 at the time of writing.