France: Socialists suggest readiness to back new government

France's Socialists have signaled they are ready to hold talks with President Emmanuel Macron over the formation of a new government.

Socialist Party leader Olivier Faure told French media on Friday that the party was prepared to play a part in breaking the country's political deadlock.

The announcement comes after the European country returned to political limbo with Prime Minister Michel Barnier's resignation following a no-confidence vote in parliament.

What did the Socialists say?

Faure stressed that any talks with Macron must respect the left's political priorities. He said the Socialists were ready to engage in talks, but that they would not accept a right-wing prime minister "under any circumstances."

Should Macron gain the Socialists' support for a new prime minister, he would likely have enough votes in parliament to fend off further no-confidence motions from Marine Le Pen's far-right National Rally and other parts of the left.

Willingness to cooperate in forming a new government was not a betrayal of other members of the leftwing New Popular Front alliance, Faure said, adding that his party was ready to make "mutual concessions."

French lawmakers from far-left and far-right parties joined forces earlier this week to back the no-confidence vote against Barnier, with 331 legislators voting in favor of the motion, out of a total of 577 lawmakers.

The vote came on the backdrop of widespread opposition to an unpopular budget bill. The budget's supporters said it was an attempt to cut France's high fiscal deficit.

"We came to say we want left-wing policies with a left-wing prime minister and that this is the message that he [Macron] now needs to understand after he picked Michel Barnier," Faure said after meeting the president.

Macron is engaged in talks with various parties in an effort to overcome the political impasse. The left-wing party La France Insoumise (LFI) has said it would not take part, as it tries to force Macron to resign.

Criticizing the move, Faure said he would not "add another madness to this madness."

LFI leader Jean-Luc Melenchon slammed Faure for talking to Macron.

"Nothing of what he's doing is in our name or the name of the NFP," he said in a social media post.

France debt risk premiums drop

Meanwhile, on Friday, French debt risk premiums versus Bunds dropped amid growing hopes that the country might end up with a 2025 budget capable of winning parliamentary approval.

Macron had promised on Thursday to appoint a new prime minister in the coming days. He named passing a 2025 budget his top priority.

The French AFP news agency cited multiple unnamed sources as saying that no appointment was expected before Monday.

The president also accused the left-wing and far-right parties that voted to topple Barnier  of being an "anti-republican front."

"They are not thinking about your lives, let's be honest. They are thinking of just one thing: the presidential election," he said during his Thursday televised address.

rmt/sms (AFP, dpa, Reuters)