French Finance Minister Antoine Armand said he is prepared to make concessions on the 2025 budget bill to avoid opposition parties toppling the government in the coming weeks.

The French government is ready to offer concessions to parliament to get through its budget, the finance minister said Thursday, in a standoff which is causing market turbulence and risks bringing down the government of Prime Minister Michel Barnier.

The future for French Prime Minister Michel Barnier's government looks bleak, with his struggles to push the 2025 budget through a polarised parliament increasingly likely to end in the toppling of his fragile coalition.

French Prime Minister Michel Barnier said the country faces a “storm” in financial markets if an “unlikely but possible” alliance of lawmakers across the political spectrum rejects his government’s budget proposals and votes it out of power.