ANALYSE – If the political imbroglio in which the country has been plunged since the legislative elections of July 7 has not caused the feared financial collapse, it is undoubtedly thanks to the euro, which plays its role as a shield for better and for worse.
The fiasco of Liz Truss, the short-lived British Prime Minister who only stayed in power for 49 days, continues to haunt people in France. Inaugurated on September 6, 2022 by Queen Elizabeth II, who was to die two days later, the Conservative Prime Minister, the third woman to hold this position after Margaret Thatcher and Theresa May, was blackballed by the financial markets. They rejected her very liberal program of 45 billion pounds of tax cuts (53 billion euros), deemed dangerous due to lack of funding. The Bank of England had to intervene massively to prevent the collapse of sterling and an explosion in interest rates, before the Conservative Party pulled the plug and found a successor.
The British financial crash of two years ago is increasingly being discussed in our country. Bruno Le Maire, the resigning Finance Minister, is waving the scarecrow of “a Liz Truss scenario”.
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