Paris stocks waver, euro falls on France budget standoff [Video]

Paris stocks wavered and the euro fell Monday as a budget standoff in France fuelled concern about the eurozone’s second-biggest economy.

Positive data from China helped boost equity markets elsewhere, with Germany’s DAX index hitting a record above 19,700 points.

Oil prices jumped more than one percent on hopes of higher Chinese demand.

The euro sat near 14-month lows as opposition to France’s belt-tightening draft budget threatens to topple the government.

Prime Minister Michel Barnier faces the risk of being deposed by a hostile National Assembly as his government presents a social security financing plan Monday that has the opposition up in arms.

Lacking a majority, Barnier used executive powers to force through the legislation without a vote.

The move exposes him to a possible no-confidence vote within days, with the left wing and the far-right National Rally of Marine Le Pen willing to back that motion bringing down the …