France’s minority government under Prime Minister Sébastien Lecornu operates in a fragmented National Assembly following the 2024 snap election, requiring ongoing cross-party deals to advance legislation. The 2026 budget process illustrated this pattern, with prolonged negotiations, no-confidence motions from the left and far right, and eventual passage via constitutional procedures after Socialist concessions. With the 2027 presidential election approaching, parties face incentives to withhold support or extract concessions ahead of the campaign, mirroring prior delays and raising risks of renewed gridlock or reliance on special measures. Trader sentiment remains near even as recent stability from the prior budget tempers concerns, yet the lame-duck timing and absence of a clear majority sustain doubts about timely adoption by year-end. Key variables include any new parliamentary alliances, economic data pressuring fiscal action, or shifts in opposition strategy that could either facilitate compromise or trigger further brinkmanship.