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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on June 24, 2025

    Featured image for article about Headlines

    By Elizabeth Pineau

    PARIS (Reuters) -France's Socialists filed a no-confidence measure against Prime Minister Francois Bayrou after pension talks collapsed, a senior party lawmaker said on Tuesday, but it seems unlikely to pass after the far-right indicated it would not follow suit.

    Months-long talks between French trade unions and employers over reforms to the pension system crumbled late on Monday, prompting Bayrou to summon both sides for talks to find a way forward.

    The failure of those talks makes Bayrou vulnerable, as his centrist government, grouping President Emmanuel Macron's Ensemble alliance and the conservative Republicans, could fall anytime if left-wing and far-right parties band together to back a motion of no-confidence.

    It also augurs badly for what are likely to be even tougher talks over the 2026 budget bill, with the government seeking to push through 40 billion euros ($46 billion) in spending cuts.

    Boris Vallaud, leader of the Socialists in the lower house, told parliament that Bayrou had not kept his promise to put a new pension reform bill to parliament.

    "This compels us to file a motion of censure," Vallaud said.

    The hard-left France Unbowed has previously supported the idea of a confidence vote, but without support from Marine Le Pen's far-right National Rally (RN), the measure looks unlikely to pass.

    Gaëtan Dussausaye, an RN lawmaker, said the RN was not looking to topple the government, and Le Pen did not mention such a move when she addressed parliament.

    "We don't censure for nothing — but that's exactly what the left is proposing here," said Dussausaye.

    Bayrou finds himself in a similar situation to the previous prime minister, Michel Barnier, whose three-month-long administration was propped up by the RN until it backed a no-confidence measure in December over his belt-tightening 2025 budget bill.

    In parliament on Tuesday, Bayrou said he was still convinced that "there is a path, albeit a very difficult one, that can lead us out of this impasse".

    In what were billed as last-chance talks, pension negotiators failed to agree on how to amend an unpopular 2023 overhaul of the pension system that will gradually raise the retirement age to 64 from 62.

    Unions wanted to allow workers with physically taxing jobs to retire earlier, and to give more weight to maternity leave, while employers were wary of concessions that could weigh on the system's finances.

    Bayrou, a centrist and long-time debt hawk, had called the union-employer talks in a bid to prevent the Socialists withdrawing their support for him.

    ($1 = 0.8606 euros)

    (Reporting by Makini Brice, Michel Rose, Leigh Thomas and Gabriel Stargardter; Editing by Rachna Uppal and Kevin Liffey)

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