Emmanuel Macron's second and final presidential term runs until May 2027, with the next election scheduled for spring of that year under France's constitutional rules limiting consecutive terms. Recent months have featured repeated government instability, including prime ministerial turnover, fiscal strain from high debt and borrowing costs, student protests, and no-confidence motions in the fragmented National Assembly. Low approval ratings around 16% and opposition from both far-right and far-left blocs have intensified pressure, yet Macron has signaled intent to complete his mandate while prioritizing foreign policy and defense matters. Traders assign low odds to an early exit by late 2026, reflecting the high procedural barriers to resignation or removal absent a major unforeseen crisis or voluntary departure.