India, Aug. 27 -- The euro weakened against other major currencies in the European session on Wednesday, as trader's concern about the collapse of France's government.
Following the failure of French Prime Minister Francoise Bayrou's minority administration to secure support in a September 8 confidence vote to approve a severe decrease in spending cuts, France is now the primary market focus in Europe. This has alarmed markets since it is likely to result in the dissolution of the cabinet and the return of eurosceptic rhetoric from the opposition parties.
Bayrou urged lawmakers on Tuesday to choose between "chaos" and "responsibility," when the confidence vote takes place on September 8.
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