US EditionFinancial Markets Forced to Adapt to French Political Uncertainty
9 Articles
9 Articles
ledauphine.com
Sébastien Lecornu's resignation created new uncertainty about the budget and weakened France's financial markets.
The surprise announcement of Prime Minister Sébastien Lecornu's resignation has caused the cost of France's ten-year bond to soar, rising above that of Italy, while the gap with Germany, the European benchmark, has widened.
The financial markets reacted strongly to the announcement of the Prime Minister's resignation on Monday, October 6. Beyond the decline in ACC 40, concern is mainly about the level of the country's borrowing rates.
Fourteen hours after the announcement of his government, Prime Minister Sébastien Lecornu delivered his resignation and that of his government on Monday morning. The President of the Republic gives him 48 hours to conduct final negotiations. Faced with this unprecedented political crisis, the two nationalist deputies, Michel Castellani and Paul-André Colombani, members of the LIOT group, do not hide their dismay and, while drawing some hypothese…
EUR/GBP falls as French political uncertainty and ECB remarks hit Euro
The EUR/GBP cross weakens significantly on Monday, falling to 0.8674, its lowest level in two weeks. The move follows the unexpected announcement that French Prime Minister Sébastien Lecornu has resigned, confirmed by the Élysée just hours after the new government was formed.
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