He has his work cut out for him. Just hours after he took office, Moody’s cut its rating on France and said the downgrade “reflects our view that the country’s public finances will be substantially weakened over the coming years.”
4. Marine Le Pen doesn’t hate him …
Far-right presidential candidate Marine Le Pen and Bayrou are poles apart on the political spectrum, but relations aren’t bad between the two veterans, which is important for France’s stability and ability to agree on finances.
Bayrou appeared to kick off his premiership on the right foot with Le Pen, who hailed “a more positive method” after meeting with him on Monday. Relations between the pair of three-time losers for the presidency go way back, with Bayrou having at times helped Le Pen with sensitive issues, notably funding structures.
Despite her election successes, the far-right leader often struggled to get bank loans and the backing needed from elected officials to stand in presidential elections. The centrist heavyweight has long campaigned to create an institution that would help parties secure loans, a top priority for Le Pen, who in 2016 had to get a loan from a Russian bank to finance her presidential bid.
In 2022, Bayrou sponsored Le Pen to allow her to run for the presidency against Macron; it was an effort, he said, to “save democracy.”
Le Pen ultimately toppled Bayrou’s predecessor Barnier earlier this month, so Le Pen’s tacit support for Bayrou could be crucial.
