François Bayrou appointed Prime Minister of France

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Roula Khalaf, Editor of the FT, picks her favourite tales on this week’s publication.

President Emmanuel Macron has appointed one in all his earliest allies, senior politician François Bayrou, as his fourth prime minister this 12 months as he seeks to convey stability to France.

The 73-year-old veteran combines financial stability with assist for social justice measures reminiscent of taxing the rich.

Bayrou has additionally known as for extra energy to be moved from Paris to the remainder of the nation.

His appointment got here after a two-hour lengthy assembly on the Elysée Palace, which was recognized to be troublesome and prompted Macron to rethink different names on the final minute.

Bayrou’s long-term alliance with Macron may anger opponents in France’s hung parliament.

Its chief, Michel Barnier, a former Brexit negotiator, was fired final week by Parliament after three months in workplace. Barnier fell in a vote of no confidence over his proposed funds to chop the deficit.

Bayrou will face the identical challenges in working a parliament divided into three separate chambers, and setting subsequent 12 months’s funds.

France is beneath stress to scale back its rate of interest, which is able to stand at 6 p.c of worldwide output on the finish of the 12 months – exceeding the EU restrict of three p.c of GDP.

This can be a rising concern