“The clock is ticking,” was one of Michel Barnier’s favourite lines as the EU’s chief Brexit negotiator, when he perfected the art of using deadlines to strengthen his hand. Now, as France’s prime minister, he is the one running out of time.

Far-right leader Marine Le Pen, who holds outsize leverage in France’s split parliament, gave Prime Minister Michel Barnier until Monday to adhere to her budget red lines before she decides whether to topple the government.

The trial of French far-right leader Marine Le Pen and other French right-wing nationalists on suspicion of embezzling European funds wound down on Wednesday, with verdicts expected in early 2025. The central accusation in the trial is that Le Pen's National Rally party received money from the European Parliament for parliamentary assistants who were actually working either partly or wholly for the party itself.

Marine Le Pen's National Rally set out further demands for changes to the French government's 2025 budget bill after Prime Minister Michel Barnier dropped plans to raise taxes on electricity in a key concession.