Macron Faces Deepening Political Crisis as France’s Fiscal Woes Mount

Paris | October 7, 2025 —French President Emmanuel Macron is facing one of the most serious political challenges of his presidency, as tensions rise within his fragile governing alliance and investor concerns grow over France’s widening public deficit.

Determined to safeguard his economic legacy — including major tax cuts and a controversial pension overhaul — Macron has spent months attempting to hold together a coalition of conservatives and centrists, known informally as the socle commun or “common platform.”

For more than a year, successive governments under this alliance have struggled to pass deficit-reduction measures demanded by both the European Union and financial markets. Two prime ministers have already been forced out over their inability to balance France’s public finances.

A Rebellion from the Right

The precarious stability of Macron’s centrist alliance shattered late Sunday, when Bruno Retailleau, one of France’s most prominent conservative leaders, publicly denounced the newly appointed cabinet of Prime Minister Sébastien Lecornu — only hours after it was announced.

Retailleau’s rebellion marks a major blow to Macron’s efforts to sustain cooperation between moderates on both sides of the political spectrum. Without the conservatives’ support, the president’s already limited parliamentary leverage could collapse entirely.

Macron is now banking on Lecornu’s political skill to bring the conservatives back to the negotiating table. Failing that, the president may be forced to pivot leftward and form a government with the Socialists, though their insistence on reinstating a wealth tax and reversing Macron’s pension reform makes such a coalition highly unlikely.

Mounting Pressure from the Far Right

Even as Macron appeals for unity, pressure from the far-right National Rally (RN) is intensifying. Party leader Marine Le Pen swiftly called for the dissolution of parliament and the scheduling of new elections, seizing on what she described as “the political paralysis of the centre.”

Recent opinion polls show the RN leading voter intentions, capitalizing on widespread discontent over economic stagnation, high living costs, and government instability.

“The RN benefits from the centre’s collapse and picks up protest votes, seeing dissolution as a unique opportunity to finally govern,” said political analyst Stewart Chau.

Calls for Macron’s Resignation Enter the Mainstream

What was once limited to the political fringes has now become mainstream: calls for Emmanuel Macron’s resignation are spreading rapidly.

David Lisnard, the conservative mayor of Cannes and a rising figure within the right, wrote on social media that France’s “national interest demands” that Macron set a date for his departure.

“France’s institutions must be preserved, and the current deadlock — inevitable since the absurd dissolution — must be broken,” Lisnard said.

A President Cornered

Macron has repeatedly said he intends to serve out his full term, which runs until 2027. Yet analysts say his options are narrowing. With little parliamentary support, growing fiscal pressure, and deep political divisions, he may soon be forced into a defining choice: to persist through paralysis or to resign voluntarily — echoing Charles de Gaulle’s 1969 exit, which also came amid a national impasse.

For now, Macron is betting on Lecornu’s ability to stabilize the government and reassure both financial markets and political allies. But as the crisis deepens, even some within his inner circle admit that the president’s authority has been severely weakened.

“Macron is fighting to defend not just his policies, but the very credibility of his presidency,” said a senior French political observer.
“If the Lecornu experiment fails, France could be heading toward another political earthquake.”

Reporting by: Michel Rose
Editing by: Gabriel Stargardter and Peter Graff