Sébastien Lecornu heads a minority government in France’s fragmented National Assembly, where passage of the 2026 budget in early February relied on repeated use of Article 49.3 to bypass votes and the defeat of multiple no-confidence motions from both the left and far-right blocs. With that fiscal measure now enacted and under constitutional review, attention has shifted to defense spending increases, energy policy implementation, and a scheduled multi-year nuclear program, all advanced through executive decrees rather than broad legislative support. Lecornu has publicly ruled out a presidential bid and signaled focus on completing his term amid persistent coalition negotiations and limited parliamentary leverage. Traders weigh these survival indicators against the risk of renewed opposition challenges or institutional pressure before scheduled events such as the June 2026 European Council meetings and ongoing budget execution reviews.