Le Pen Vows Drastic Cost Savings to Prevent French 'Default'
The plan would require annual deficit cuts and a referendum-backed fiscal rule as bond yields stay near their highest levels since 2002.
- On Tuesday, presidential frontrunner Marine Le Pen unveiled a €140 billion spending-cut plan, warning France is "heading towards default" without fiscal reform by 2032.
- France faces a 5.4% deficit forecast this year as bond yields soared to levels unseen since 2002, mounting investor unease over the country's fiscal trajectory.
- Le Pen targets a deficit below 3% by 2030 and debt-to-GDP ratio of 112% by 2032, while limiting France's net annual EU contribution to €5 billion.
- French 10-year yields fell to 4.75% following the announcement, though investors have cut exposure to French assets amid persistent doubts about fiscal credibility.
- Implementation faces hurdles in a divided parliament where Le Pen's National Rally remains the largest opposition bloc ahead of April and May 2027 presidential elections.
81 Articles
81 Articles
Neither liberal nor socialist. Marine Le Pen unveils its road map to correct the public accounts, with a plan of 140 billion euros of net savings by 2032. A programme that receives a cautious but positive welcome, from Sophie de Menthon, the president of the employers' movement Ethic. Summary and analysis of a vade-mecum.
LEN PEN TO WIN!?. Le Pen not only promises to take care of the uncontrolled immigration, but also big spending cuts to the government
LEN PEN TO WIN!?Le Pen not only promises to take care of the uncontrolled immigration, but also big spending cuts to the government.Unless the globalists come together and do something unhinged, I can’t see how she will not win.There’s a right...
France is heavily indebted and clearly breaks the EU's rules. In the election campaign right-wing populist Le Pen now appears as a saver and announces that the budget will be radically cut - especially by spending on immigration policy.
French presidential candidate Marín Le Pen introduced an economic programme on Tuesday, with large cuts in expenditure and contributions to the EU, warning of the risk of default. Marin Le Pen announced in Paris an economic platform in which she proposed to reduce immigration, reduce France's contributions to the EU budget and reduce regulation, estimated at 140 billion euros in net savings over a five-year term, transmitting a policy.
(London=Yonhap News) Correspondent Kim Ji-yeon = On the 6th (local time), Marine Le Pen, a leading French presidential candidate and lawmaker of the National Rally (RN), proposed greater public spending cuts than her previous plan...
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