France finally has a new government. After Macron's gamble to dissolve parliament before summer, a surprise victory of the leftwing alliance in snap elections, and France's longest-ever caretaker government, it has all led to this: the most right-leaning government in at least a decade, and on top of that, at the mercy of the far right.

Led by veteran right-wing politician Michel Barnier, the new government includes ministers from Macron's centrist camp to the conservative right, some with very reactionary views. The catch? It's still a minority government. With the left-wing alliance ready to bring it down at any occasion, its survival rests on the goodwill of the far-right National Rally (RN).

Marine Le Pen has hinted she won’t back a vote of no confidence for now, allowing the new government to do its job. However, she made it clear her tacit support comes with conditions, particularly on security and immigration. This gives her influence over policies while still being able to criticise the government, and ultimately holding its fate in her hands.

The ironies are glaring: 11 weeks after the left came out on top of the elections, France shifts right. Macron, who has been portraying himself as the only bulwark against the far right, has now made them kingmaker. And the far right, crushed in the election by a ”republican front”, has never been more influential.

At the European level, there are growing concerns that this fragile minority government’s dependence on the far right for key votes could hinder efforts to strengthen public finances, potentially undermining the EU's new fiscal rules.