We are live in Paris where the French government has collapsed after Prime Minister Francois Bayrou loses a vote of confidence over his austerity budget. France will now seek its fifth prime minister in less than two years. Bayrou warned lawmakers that while they can oust him, they cannot ‘erase reality’ about the country’s ballooning debt. We are also in Munich at the IAA Mobility 2025 show where European car makers show off their latest models with Chinese rivals cranking up the pressure across the Continent. Xpeng boss He Xiaopeng tells CNBC he plans to take his mass-market Mona brand overseas next year. At the Gastech summit in Milan we speak to TotalEnergies CEO Patrick Pouyanné who says European energy markets must diversify in the face of Opec+ output hikes, U.S. tariffs and tighter sanctions on Russia. And the European single market also dominates discussions at the Ambrosetti Forum with former Italian Prime Minister Enrico Letta telling this channel that President Trump’s tariffs have served as a ‘federator’ for European unity.

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