France
Crunch time for French ex EU/ Brexit negotiator PM Barnier as he struggles to get his budget approved on November 19, as he leads his minority Government with the backdrop of Moody’s changing their outlook for La Belle France from stable to negative last Thursday. Targeting a whopping €66 billion budget reduction through a mix of €44 billion of spending cuts and €22 billion of tax increases on companies it is a steep hill to climb. Failure will result in the fall of his Government, Barnier falling on his sword and another election. Just for good measure those bureaucrat titans the French Deputies have tabled 3,500 of amendments to the budget to pile further misery on master of the small print Barnier.
EUR/GBP 0.8329.