The new French Prime Minister chose Eric Lombard as the Minister of Finance

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France’s new prime minister, Francois Bairro, has named Eric Lombard, the head of the state-backed financial group Caisse des Dépots, as finance minister, with a key role in trying to pass next year’s budget.

Lombard will be responsible for drawing up a tax and spending plan for 2025 that can be approved by France’s austere parliament, as well as starting to repair the country’s battered public finances.

Barrow’s predecessor was Michel Barnier. Removed by the National Assembly A vote of no confidence was passed earlier this month with left-wing and far-right political parties protesting the budget over deficit.

After days of wrangling between him and President Emmanuel Macron, the members of Bairro’s cabinet were announced on Monday night, officially naming ministers on the advice of the prime minister.

Macron and Bairu are under pressure to end political unrest in France and form a government capable of passing key measures in a divided parliament.

In the year In an unprecedented move since the French Fifth Republic was founded in 1958, France has had its fourth prime minister this year.

Barnier’s administration lasted only three months, making him a short-lived head of government.

Far-right leader Marine Le Pen, who played a key role in ousting Barnier, will have a big influence on whether Bairou succeeds as her Nationalist Party is the largest in the National Assembly.

Brussels and financial markets have been scrutinizing France to see if it can reduce its deficit, which has reached 6 percent of gross domestic product this year, above the EU’s 3 percent limit.

In the year Bayrou, who has led the small Modem party in parliament since 2017, which has been linked to Macron’s centrist group, does not have enough votes to pass a budget.

If Bayrou wants to override lawmakers and pass the budget under the French constitution, he will, like Barnier, face another no-confidence vote.

In January, a separate emergency budget was approved by Parliament to prevent the shutdown of government services.

Lombard, a 66-year-old former banker, has led the Caisse des Déptots since 2017, making long-term investments in public housing, infrastructure and green projects.

In defense and international diplomacy, considered the domain of the president, not the prime minister, Macron opted for continuity, appointing his loyalist Sébastien Lecorne as defense minister and Jean-Noel Barot as foreign minister. Both served in Bernier’s government.

Right-winger Bruno Retail, who made his mark as interior minister in Barnier’s administration by talking tough on immigration and crime, was also caught in the existing brief.

Former prime minister Elisabeth Borne, also from Macron’s centrist camp, will return as education minister.