Paris. French President Emmanuel Macron will address the nation Thursday, a day after the National Assembly ousted Prime Minister Michel Barnier in a historic no-confidence vote that has left France without a functioning government.

Macron is expected to focus on stabilizing the political crisis and possibly naming a new prime minister to navigate the fractured parliament.

Barnier formally submitted his resignation Thursday morning at the Elysée Palace, fulfilling a constitutional obligation. The no-confidence motion passed by 331 votes in the National Assembly, forcing Barnier to step down after just three months in office -- the shortest tenure of any prime minister in modern French history.

Pressure to Act Swiftly
Macron faces the critical task of naming a replacement capable of leading a minority government in a parliament where no party holds a majority. Yaël Braun-Pivet, president of the National Assembly and a member of Macron’s party, urged the president to move quickly.

“I recommend he decide rapidly on a new prime minister,” Braun-Pivet said Thursday on France Inter radio. “There must not be any political hesitation. We need a leader who can speak to everyone and work to pass a new budget bill.”

The process may prove challenging. Macron’s administration has yet to confirm any names, though French media have reported a shortlist of centrist candidates who might appeal to both sides of the political spectrum.

Macron took more than two months to appoint Barnier after his party’s defeat in June’s legislative elections, raising concerns about potential delays this time.

Calls for Macron to Step Down
The no-confidence vote has galvanized opposition leaders, with some explicitly calling for Macron’s resignation.

“I believe that stability requires the departure of the President of the Republic,” said Manuel Bompard, leader of the far-left France Unbowed party, on BFM TV Wednesday night.

Far-right National Rally leader Marine Le Pen, whose party holds the most seats in the Assembly, did not explicitly call for Macron’s resignation but warned that “the pressure on the President of the Republic will get stronger and stronger.”

Macron, however, has dismissed such calls and ruled out new legislative elections. The current French constitution does not call for a president to resign after his government was ousted by the National Assembly.

“I was elected to serve until 2027, and I will fulfill that mandate,” he told reporters earlier this week.

The constitution also says that new legislative elections cannot be held until at least July, creating a potential stalemate for policymakers.

Economic Uncertainty
The political instability has heightened concerns about France’s economy, particularly its debt, which could rise to 7 percent of GDP next year without significant reforms. Analysts say that Barnier's government downfall could push up French interest rates, digging the debt even further.

Rating agency Moody’s warned late Wednesday that the government’s fall “reduces the likelihood of consolidating public finances” and worsens the political gridlock.

Macron’s speech, scheduled for 8 p.m. local time, is expected to address these economic challenges while setting a course for the future government.

Add as a preferred source on Google +