The country’s borrowing costs have soared over worries that a political showdown in Parliament over spending cuts and tax increases could topple a fragile government coalition.

French President Emmanuel Macron will preside over the re-opening of Notre-Dame cathedral, with a number of world leaders present.

Following the June-July parliamentary elections, the National Assembly, France’s powerful lower house of parliament, is divided into three major blocs: a left-wing coalition known as the New Popular Front, Macron’s centrist allies and the far-right National Rally party. None won an outright majority.

Prime Minister Michel Barnier pushed a budget bill through the lower house of Parliament without a vote. A no-confidence vote this week could topple him and his cabinet.

Barnier may decide to press ahead with a regular vote. If the social security budget is shot down, it would go back to the Senate for further negotiations. If it miraculously passes, there are two other major hurdles ahead, with votes on the broader budget scheduled for Dec. 4 and Dec. 18, presenting the same risks for Barnier.

Finance Minister Antoine Armand said France won’t accept artificial budget deadlines from Marine Le Pen even as the far-right leader gave her strongest indication yet that she’s prepared to topple the government as soon as this week.

French Prime Minister Michel Barnier has invoked a special constitutional tool to push through the controversial 2025 austerity budget without a parliamentary vote.

France is at a turning point due to uncertainty over the country's budget and the future of the government, Finance Minister Antoine Armand said on Tuesday. Expectations that Prime Minister Michel Barnier's government will collapse due to opposition to his budget have hit the stock and bond markets of France,

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