Michel Barnier Appointed as France's New Prime Minister

Michel Barnier was on Thursday appointed as the new Prime Minister of France by President Emmanuel Macron.

This appointment followed a period of political instability marked by a snap legislative election that resulted in a hung parliament.

Barnier, a seasoned politician and former EU Chief Brexit Negotiator, faces the formidable task of navigating through a fragmented political landscape.

Barnier's political career is extensive. He has held several key positions within the French government, including Minister of the Environment (1993-1995), Minister for European Affairs (1995-1997), Minister of Foreign Affairs (2004-2005), and Minister of Agriculture and Fisheries (2007-2009).

At the European level, he served as the European Commissioner for Internal Market and Services from 2010 to 2014 and was the EU's Chief Negotiator for Brexit from 2016 to 2019.

Born on January 9, 1951, in La Tronche, France, Barnier has been a member of various Gaullist parties throughout his career, currently aligning with The Republicans. His recent appointment as Prime Minister makes him the oldest individual to hold this office in modern French history at the age of 73.

Barnier's tenure begins amidst huge challenges. He must address pressing issues such as healthcare, security, job creation, and reducing national debt. In his inaugural speech at the Matignon residence, Barnier emphasized the need for "respect, unity, and appeasement" across the nation.

He pledged to listen to all political groups and work towards addressing the "anger, suffering, and feeling of abandonment" prevalent in many parts of France.

The political climate remains tense, with the far-right National Rally (RN) offering tentative support but warning that it could withdraw if its concerns on immigration and security are not met.

Meanwhile, the hard-left faction, led by Jean-Luc Melenchon, has called for street protests, claiming the election was "stolen."

Barnier's ability to steer legislation, such as the 2025 budget, through a hung parliament will be crucial. His appointment has been met with cautious optimism from financial markets, with positive reactions seen in bank shares and government borrowing costs.