France plunged into fresh political turmoil on Monday after lawmakers voted to remove Prime Minister François Bayrou from office, delivering a punishing blow to President Emmanuel Macron’s leadership amid mounting economic and geopolitical pressures.

Bayrou, who had been in office just nine months, lost the no-confidence vote by 364 to 194 after attempting to push through a controversial €44 billion ($51 billion) austerity package. The plan included scrapping two public holidays and freezing government spending, measures that sparked fierce opposition across the political spectrum, CNN reported.

Bayrou becomes the second Macron-appointed prime minister to fall in less than a year, following Michel Barnier’s ouster in December. His departure leaves Macron in a precarious position with no clear successor and a fragmented parliament unwilling to back another centrist figure.

The vote triggered unease in financial markets, with yields on French government bonds rising above those of Spain, Portugal, and even Greece—nations previously at the heart of the eurozone debt crisis. Analysts warn that a possible downgrade of France’s credit rating later this week could deepen investor anxiety and further undermine the country’s fiscal standing.

In a defiant address before the vote, Bayrou warned lawmakers:

“You have the power to bring down the government, but you do not have the power to erase reality. Expenses will continue to rise, and the burden of debt, already unbearable, will grow heavier and more costly.”

He added that France had “broken the social contract” with its younger generations, underscoring the urgency of reform.

The roots of the current crisis trace back to Macron’s snap election call in 2024, after far-right party National Rally made significant gains in the European Parliament elections. The gamble backfired, weakening Macron’s centrist coalition and empowering both the far right and far left in a splintered National Assembly.

Calls are growing for Macron to resign or dissolve parliament, but the president has vowed to serve out his term. However, new elections would likely strengthen Marine Le Pen’s National Rally and further polarize the legislature.

With three centrist prime ministers ousted under his watch, Macron faces a deadlocked parliament where both right and left opposition leaders have vowed to trigger another no-confidence vote if he appoints another moderate.