In what might be the most ambitious “we need to talk about our finances” conversation since someone tried to convince their spouse that a boat was a reasonable investment, France’s Prime Minister François Bayrou has proposed scrapping two public holidays to help dig the country out of its financial hole.
It’s like when your credit card bill arrives and you seriously consider whether you really need Netflix AND Hulu, except instead of streaming services, we’re talking about Easter Monday and Victory Day. Because nothing says “fiscal responsibility” like making people work on the day that commemorates the end of World War II.
FRANCE’S DEBT: BIGGER THAN YOUR STUDENT LOANS (AND THAT’S SAYING SOMETHING)
Outlining France’s 2026 budget on Tuesday—which probably required more PowerPoint slides than a middle management presentation about “synergy”—Bayrou suggested eliminating Easter Monday and May 8th (VE Day) as national holidays, though he graciously noted he was “open to other options.” You know, like a restaurant server asking if you’d prefer to give up your appetizer or dessert when you can’t afford both.
“The entire nation has to work more so that the activity of the country as a whole increases, and so that France’s situation improves. Everyone will have to contribute to the effort,” Bayrou announced with the enthusiasm of someone explaining why the office coffee budget got cut.
Here’s the thing: France is currently running a public deficit of 5.8% of GDP when EU rules say it should be 3%. That’s like being told your credit utilization should be under 30%, but you’re sitting at 58% and your credit card company is starting to send very stern letters.
The country is dealing with €3.3 trillion in public debt—that’s trillion with a T, the kind of number that makes your brain hurt just thinking about it. The annual interest alone is €60 billion, which could soon become France’s biggest budget expense. It’s like having a mortgage payment so high that you’re considering renting out your kitchen to make ends meet.
BAYROU’S BELT-TIGHTENING PLAN: MAKING SCROOGE LOOK GENEROUS
Bayrou described this debt mountain as a “mortal danger” for a country “on a cliff edge” and “still addicted to public spending.” He’s basically staging an intervention for an entire nation, except instead of hiding the car keys, he’s hiding the vacation days.
His plan would slash €43.8 billion from the budget—enough money to buy Twitter twice, if anyone’s keeping track—with the goal of reducing the deficit to 4.6% next year and hitting that magical 3% target by 2029.
The austerity measures read like a greatest hits album of “things that will make people mad”:
- Government spending freeze (except for debt payments and defense, because priorities)
- Keeping pensions at 2025 levels (because who needs cost-of-living adjustments?)
- Capping welfare spending (because that always goes over well)
- Cutting healthcare by €5 billion (nothing controversial there)
- Freezing civil service salaries and cutting public sector jobs (the crowd pleaser)
President Emmanuel Macron did insist that defense spending increase by €3.5 billion next year, because apparently the military is the only government department that gets a raise when everyone else is eating ramen.
POLITICAL REACTIONS: EVERYONE AGREES TO DISAGREE (LOUDLY)
The response from French politicians was about as warm as a freezer during a power outage. Jordan Bardella of the far-right National Rally called it “a direct attack on our history, our roots and on working France,” adding that “No RN MP will accept a measure that amounts to provocation.” It’s like telling your teenager they can’t use the car and getting a three-hour lecture about how you’re ruining their life.
Fabien Roussel of the French Communist Party called the proposals “an organised hold-up,” which in French politics is apparently equivalent to calling someone a big meanie. Jean-Luc Mélenchon of the radical left LFI said it was “time to expel Bayrou” and “end this destruction, these injustices”—basically the political equivalent of “I want to speak to the manager.”
Socialist MP Boris Vallaud condemned it as “a brutal and unacceptable budget,” adding: “Asking always more from those who have little, and so little from those who have much, is neither serious, effective, nor just.” It’s the age-old complaint of “why do I have to eat mac and cheese while Jeff Bezos goes to space?”
THE PARLIAMENTARY MATH THAT WOULD MAKE YOUR HIGH SCHOOL ALGEBRA TEACHER CRY
Here’s where things get as complicated as trying to split a dinner bill with eight people who all ordered different things. Macron’s decision to call a snap election last year created a hung parliament where Bayrou doesn’t have enough votes to pass his budget without support from either the left or the right—both of whom oppose his proposals for completely different reasons.
It’s like needing both your ex-boyfriend and your current boyfriend to cosign a loan, and they both think your financial planning skills are questionable.
Without an agreement, Bayrou could face a no-confidence motion as early as October—the same kind that toppled his predecessor Michel Barnier faster than a house of cards in a wind tunnel. Because nothing says “stable government” like prime ministers dropping like contestants on a reality show.
THE ULTIMATE IRONY: WORKING MORE TO CELEBRATE WORKING LESS
There’s something beautifully French about this entire situation. The country that gave us the 35-hour work week and perfected the art of the lunch break is now being told they need to work on their days off to pay for the privilege of having days off in the first place.
France has actually discussed combining VE Day with Armistice Day (November 11) before, creating one super memorial day for both world wars. It’s like consolidating your streaming services, except instead of saving $12 a month, you’re trying to save an entire economy.
So there you have it: France is basically trying to Marie Kondo its way out of debt by asking whether each public holiday “sparks joy” or just sparks more debt payments. Will Bayrou’s plan work, or will he be looking for a new job faster than you can say “no-confidence vote”?
Stay tuned for the next episode of “European Economics: More Dramatic Than Your Favorite Reality Show,” where every budget proposal comes with a side of political theater and the only thing higher than the debt is the drama.