France is Europe’s new ‘bad boy.’ Could a technocratic government save it?

France is Europe’s new ‘bad boy.’ Could a technocratic government save it?


With its recent political turmoil and instability, France has been compared to Italy, replacing it as the new “bad boy” of Europe.

Should France, then, take a page out of Italy’s book and consider a technocratic government?

President Emmanuel Macron is expected to pick his new prime minister by Friday evening, after outgoing PM Sebastien Lecornu led last-ditch talks for two days with political parties to try and unlock the current political deadlock.

Lecornu on Wednesday evening declared that “a majority of deputies oppose dissolution (of parliament), a platform for stability exists, a path is possible to adopt a budget by December 31st”. He concluded that “on this basis, the president of the republic will appoint a prime minister within the next 48 hours.”

But the most unexpected part came after. 

While Lecornu didn’t unveil details on the potential makeup of the new government, he made a suggestion: “Whoever it is,” they should be “completely disconnected from the presidential ambitions for 2027.”

“The situation is already difficult enough. We need to have a team that ultimately decides to roll up its sleeves and solve the country’s problems until the presidential election,” he added.

France searches for sixth PM in two years

Italian lessons?

Already on Monday, shortly after his resignation, Lecornu had deplored the “resurgence of partisan appetites, sometimes not unrelated to the upcoming presidential election.”

Would a technocratic government — selected on the basis of technical expertise, rather than a popular vote — perhaps fill the brief? 

Outgoing French Prime Minister Sebastien Lecornu delivers a statement at the Hotel Matignon in Paris, on Oct. 6, 2025.

Stephane Mahe | Afp | Getty Images

This scenario could help pause the political crisis, which has seen France go through five prime ministers in less than two years.

It may also reassure investors and gain time until the 2027 presidential election — or at least until March 2026 when some suggest a parliamentary snap election could be held alongside an already scheduled nationwide mayoral election, in an attempt to solve the current deadlock in the National Assembly.

In Italy since the 1990s, central bankers have led multiple technocratic governments, Mario Draghi being the latest example.

In France, the name of François Villeroy de Galhau, the governor of the Banque de France since 2015, keeps resurfacing as a rumored option for the most recent PM nominations.

But although, on paper, a technocratic government might tick a lot of boxes, there’s a key reason it’s unlikely to work in France: public opinion.

The French are known for being deeply, and at times passionately, political. And with tough decisions needed to pass the 2026 budget and bring the country’s deficit closer to 3% of GDP, this is perhaps one of the most political moments for the country in recent times.



Source

France’s Macron reappoints former prime minister Lecornu as PM
World

France’s Macron reappoints former prime minister Lecornu as PM

Outgoing French Prime Minister Sebastien Lecornu, who submitted his government’s resignation to the French President this morning, reacts after delivering a statement at the Hotel Matignon in Paris, on October 6, 2025. Stephane Mahe | Afp | Getty Images French President Emmanuel Macron on Friday named Sebastien Lecornu as prime minister, reappointing him after he quit the job […]

Read More
Stocks making the biggest moves midday: MP Materials, Alibaba, Protagonist Therapeutics & more
World

Stocks making the biggest moves midday: MP Materials, Alibaba, Protagonist Therapeutics & more

Check out the companies making the biggest moves midday: Rare earth stocks — The group rose broadly after President Donald Trump said China was holding the world “captive” over the minerals, threatening countermeasures. MP Materials traded 13% higher along with USA Rare Earth . Magnificent Seven — Megacap tech stocks tumbled Friday after Donald Trump […]

Read More
CPI inflation report will be released by Labor Department, while other data is delayed by shutdown
World

CPI inflation report will be released by Labor Department, while other data is delayed by shutdown

A large US flag is seen on the facade of the Department of Labor headquarters building in Washington DC, United States on September 8, 2025. Celal Gunes | Anadolu | Getty Images The Labor Department will bring back staff to work on a key consumer inflation report despite the ongoing federal government shutdown, CNBC has […]

Read More