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

Paris stocks wobbled 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 19,900 points.

Oil prices rose 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 parliament 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 no-confidence vote, likely on Wednesday, with the left wing and the far-right National Rally of Marine Le Pen saying they will back a motion bringing down the government.

Le Pen “has the power to destroy Barnier and his mission to …