France's fragmented National Assembly and minority government under Prime Minister Sébastien Lecornu face intense pressure from budget negotiations, rising borrowing costs, and social protests over fuel prices and fiscal austerity. President Emmanuel Macron has publicly ruled out dissolving the Assembly ahead of the April-May 2027 presidential election, citing constitutional limits that would restrict the incoming president's options for a year afterward. Opposition parties, including National Rally and La France Insoumise, are positioning for potential no-confidence votes or using Article 49.3 maneuvers, while polls show Marine Le Pen leading the presidential race. Any snap legislative election before 2027 remains unlikely without a government collapse, though the new president could dissolve shortly after taking office to secure a majority. Traders monitor budget passage deadlines and protest escalation as near-term catalysts.