by Jack Parbrook
On the 4th of December, France’s government collapsed following a no confidence vote, leading to the resignation of Prime Minister and erstwhile Brexit negotiator Michel Barnier. His government broke after failing to pass the 2025 budget, which contained €40bn in spending cuts and €20bn in tax rises. These policies were opposed by two of the three major bloc’s in France’s Parliament: the left-wing Nouveau Front Populaire and the populist right-wing Rassemblement Nationale, led by Marine le Pen.
The budget’s failure will do no favours to president Emmanuel Macron’s already low reputation; he had hoped to ensure France’s finances remained sustainable against the background of a debt to GDP ratio of 110% and a deficit of 5% last year. Yet Macron may have only himself to blame: he called snap elections in July which led to the very hung parliament that failed to pass his budget. Nevertheless, Macron has refused calls to resign and appointed his ally Francois Bayrou Prime Minister.
Seoul Over: South Korea’s President Faces Impeachment
South Korea’s National Assembly voted to impeach President Yoon Suk Yeol on December 14th. He had already survived a previous vote earlier in the month, but on this occasion votes from members of his own People’s Power Party (PPP) ensured the motion to impeach him got the necessary two-thirds majority. Yoon faced these calls for impeachment after declaring martial law on December 3rd, suggesting that the National Assembly, controlled by the Democratic Party (DP) since last summer’s elections, were a threat to South Korean democracy and even implying that they were collaborating with North Korea. The period of martial law was brief, with those politicians in the chamber at the time martial law was imposed unanimously voting to revoke it. Yoon has refused summons to appear for questioning and a warrant for his arrest has been issued. His approval ratings fell to 11% by the middle of last month.
The country’s constitutional court has up to 180 days from the impeachment vote to issue a ruling on whether or not the impeachment is to be sustained; however, they may reach a verdict sooner. The votes of 6 of the 9 justices that can sit on the court are required for the impeachment to be sustained. Presently, only 8 justices sit on the court after acting President Choi Sang-mok, appointed only 2 of the additional 3 justices requested by the DP (there was a vacancy of 3 seats on the court after some retirements earlier in the year).
In Brief
Jimmy Carter, who served as President of the US between 1975 and 1980, died aged 100 on the 29th of December. His notable policy achievements include pardoning those who had dodged the draft for the Vietnam War and facilitating the signing of the Camp David accords between Israel and Egypt.
Syrian dictator Bashar al-Assad fled to Russia after his regime was overthrown. Whether Syria’s new rulers, the Islamist group Hayat Tahir al-Sham, can maintain control of the fractious country remains uncertain.
The views expressed in this article are the author’s own and may not reflect the opinions of the St Andrews Economist
