President Emmanuel Macron has lost his second government in less than a year, a measure of how France is caught in a spiral of political dysfunction that is draining its public finances.

A no-confidence motion against the government of Prime Minister François Bayrou won the support of 364 lawmakers in the 577-seat National Assembly, forcing him to tender his resignation.

The fall of Bayrou, a centrist ally of Macron, after less than nine months in office deepens the country’s paralysis at a time when investors are questioning whether France can muster the political will to rein in its ballooning budget deficit.

“You have the power to overthrow the government, but you don’t have the power to erase reality,” Bayrou told lawmakers at the National Assembly, moments before the vote, describing France’s finances as “a silent, underground, invisible, and unbearable hemorrhage.”... Read More: WSJ