France faces ongoing political instability following the 2024 snap legislative election, which produced a hung parliament and led to multiple government changes. President Emmanuel Macron has publicly ruled out dissolving the National Assembly before the scheduled April-May 2027 presidential election, citing risks to stability. Recent October 2026 riots, budget disputes under Prime Minister Sébastien Lecornu, and fiscal pressures have heightened tensions but have not shifted Macron toward another early legislative vote. Traders price a low probability of a snap election call by late 2026, reflecting constitutional constraints, the president's term limits, and historical precedent that such moves often backfire. Key upcoming tests include November budget votes and potential no-confidence motions that could test government survival without triggering dissolution.