France is facing deepening political and fiscal concern after Prime Minister François Bayrou lost a confidence vote in the National Assembly yesterday with 364 deputies opposing his €44 billion deficit cutting package with only 194 in support. His plan, which included tax hikes, spending cuts and the removal of two public holidays, was fiercely opposed across the political spectrum. Bayrou is the second prime minister to fall in less than a year, following Michel Barnier's resignation in December after just three months in office. This rare parliamentary defeat marks only the third such case since the founding of the Fifth Republic and has heightened market nervousness amid France's debt pile of 114 percent of GDP. President Macron must now appoint a third prime minister capable of navigating a hung parliament and passing a budget before year end. French bond prices fell as investors absorbed the rising political risk and uncertain fiscal outlook.