<h1>France faces fiscal and political impasse after fourth prime minister in 12 months, debt over 110% GDP strains markets</h1> France faces a fiscal and political impasse after the president appointed a fourth prime minister in 12 months amid a fragmented parliament that has repeatedly toppled governments by rejecting austerity measures. Years of high public spending, pandemic and energy-related emergency subsidies, and rising interest rates pushed debt above 110% of GDP and the deficit past EU limits, triggering market pressure and higher borrowing costs. EU rules, the European Central Bank and rescue mechanisms could only intervene conditionally, requiring credible fiscal consolidation. Absent parliamentary agreement on spending cuts or tax changes equal to several percentage points of GDP, markets could further penalize sovereign borrowing.