On Tuesday, François Villeroy de Galhau indicated that “the confusion” around the way in which France was going to “reduce (its) deficits and control its debt would have a cost on the borrowing of France and the French”.
The governor of the Bank of France, François Villeroy de Galhau, estimated on Friday that “taking back control” of France's very degraded public finances was in the “national interest”, a few hours before the rating agency's decision S&P on French sovereign debt.
“I really believe that the national interest – (…) we say compliance with the rules of Brussels – is to regain control of our public finances”, he declared during an intervention during the The “Days of the Economy Differently” event in Dijon.
Regarding Prime Minister Michel Barnier's draft budget, “I really believe that it is going in the right direction because otherwise, we will find ourselves with an interest burden which is becoming heavier and heavier,” he said. he added.
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