Former European Commissioner Thierry Breton and the first president of the Court of Auditors Pierre Moscovici, whose names are circulating to join the executive, were both worried on Monday about “a France at a standstill” and demanded a government to tackle debt reduction without which “there is no future”.
“France has been at a standstill for almost a year now. We have had four successive prime ministers. We have economic agents who are at a standstill, waiting to know if they are going to invest. We have probably a risk of significant restructuring for a number of companies (…) We need a government,” alerted Mr. Breton on BFMTV/RMC.
After the downgrading of France's sovereign rating by the rating agency Moody's on Friday, “the role of politicians, and in particular in the charge of the country's finances, is obviously to make the rating agencies lie,” he said. -he judged.
“As France is a large member country of the EU, member of the euro and has extremely abundant savings of more than 6,000 billion, this gives us a little time to avoid using methods + 'Argentina+' in terms of spending reduction, he judged.
“But there is not a second to lose, we must give ourselves a trajectory and above all, stick to it,” he insisted, rejoicing that François Bayrou has placed “the fight against debt as the first point.
For his part, Pierre Moscovici warned “that there is no future for this country if it does not get out of debt”.
“We can't do anything with a debt of this magnitude. It's 25 billion repayments in 2021, 53 billion this year, 70 billion in the coming year (…) How do you want to finance public policies 'future?', he worried on franceinfo.
“Investors keep their investments because they do not know in which universe they are deployed. Consumers, they postpone their consumption,” noted Mr. Moscovici.
“There is a Gordian knot between economic uncertainty, political instability and financial deterioration. We must cut this knot and to cut it, we must resolve the political question,” he summarized.
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