The French government is prepared to “make concessions” to get its budget though parliament and avoid a market “storm”, the country’s finance minister said on Thursday, in a stand-off that risks bringing down Michel Barnier,

The French government is ready to offer concessions to parliament to get through its budget, the finance minister said Thursday, in a standoff which is causing market turbulence and risks bringing down the government of Prime Minister Michel Barnier.

French stocks and bonds came under fire on Wednesday, driving the premium the government pays for long-term borrowing to its highest since the euro zone debt crisis of 2012, as investors grew uneasy over the fate of the new government and its budget.