GZERO Europe

Carl Bildt, former prime minister of Sweden and co-chair of the European Council on Foreign Relations, shares his perspective on European politics from Parma, Italy.

First question, obviously, is what's happening in France?

The Barnier government didn't last more than 57 days. It was brought down by the populists of the right and the populists of the left. And Barnier tried to do what needs to be done. Bring the French budget under control. They have a deficit of roughly 6% of GDP. That's double what is allowed under the European Union rules and they were headed to 7%. He had proposed a budget of tax cuts and expenditure cuts, take it down to 5%, which is too high anyhow, and brought down. So what will happen now? Well, Marine Le Pen would like to get rid of Macron. I think that's unlikely to happen in the short perspective anyhow. And Macron, the president, will have to find a new prime minister and a new government. That will take its time. And from the wider European perspective, of course, less than ideal. We have an extremely weak government in Germany heading for elections and likely to lose that particular election. We now have a situation where France doesn't have any functioning government either, and we have things happening on the other side of the Atlantic.