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New French PM gives up predecessor's idea to cut back two public holidays
Published by Global Banking and Finance Review
Posted on September 13, 2025
1 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 13, 2025
1 min readLast updated: January 21, 2026
French PM Sebastien Lecornu drops a plan to cut public holidays amid budget concerns following Fitch's downgrade of France's credit rating.
PARIS (Reuters) -New French Prime Minister Sebastien Lecornu told French daily La Provence on Saturday that he was dropping a proposal by his predecessor to cut back two public holidays as part of budget measures aimed at reducing the deficit.
Reacting to news that credit rating agency Fitch had downgraded France's sovereign credit score to A+ on Friday - the country's lowest level on record - Lecornu was quoted as saying: "We are paying for the instability."
Fitch's decision piles pressure on Lecornu just days into the job as he scrambles to form a cabinet and draft a 2026 budget that can pass a deeply divided parliament.
(Reporting by Dominique Vidalon; Editing by Joe Bavier)
New French Prime Minister Sebastien Lecornu announced he was dropping a proposal by his predecessor to cut back two public holidays.
The pressure on Lecornu increased after credit rating agency Fitch downgraded France's sovereign credit score to A+, the country's lowest level on record.
Lecornu is facing the challenge of forming a cabinet and drafting a 2026 budget that can pass a deeply divided parliament.
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