France's minority government under Prime Minister Sébastien Lecornu continues to operate in a fragmented National Assembly, where the center relies on shifting alliances with moderate left and conservative lawmakers to survive no-confidence motions and advance legislation. Lecornu has used Article 49.3 to force budget measures through without votes, a tactic that previously triggered opposition challenges but allowed passage of the 2026 fiscal package earlier in the year. Persistent fiscal pressures, including debt reduction targets and EU compliance deadlines, remain central drivers of political risk. Traders assess the likelihood of resignation or replacement against this backdrop of repeated procedural brinkmanship and the absence of a stable majority coalition. Scheduled parliamentary sessions and any new budget amendments in the coming months could test the government's durability further.