France's political landscape remains marked by a fragile minority government under Prime Minister Sébastien Lecornu, who survived multiple no-confidence votes in early 2026 and secured passage of the annual budget through repeated use of Article 49.3 constitutional powers. This outcome followed months of negotiations with centrist and socialist lawmakers over deficit targets near 5 percent of GDP, energy policy, and defense spending, granting the administration a measure of short-term stability. However, the absence of a parliamentary majority leaves Lecornu exposed to renewed opposition challenges from both the left and right, with potential triggers including future fiscal debates or legislative amendments ahead of the 2027 presidential contest. Traders monitor these procedural risks as the primary drivers of removal probabilities.