Thierry Breton and Pierre Moscovici encourage the government to tackle the debt

Former European Commissioner Thierry Breton and the first president of the Court of Auditors Pierre Moscovici, whose names are circulating to join the executive, both expressed concern on Monday “of a France at a standstill” and called for 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 probably have a risk of significant restructuring for a number of companies (…) We need a government”alerted Thierry Breton on BFMTV/RMC.

After the downgrading of France's sovereign rating by the Moody's rating agency on Friday, “the role of politicians, and in particular in the responsibility of the country's finances, is obviously to make the rating agencies lie”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 “à la mode” methods. 'Argentina”” in terms of reducing expenses, he judged. “But there is not a second to lose, you have to give yourself a trajectory and above all, stick to it”he insisted, rejoicing that François Bayrou had placed “the fight against debt as the first point”.

“The fight against debt”

For his part, Pierre Moscovici warned “that there is no future for this country if it does not get out of debt”. “There is nothing we can do with a debt of this magnitude. That's 25 billion reimbursements in 2021, 53 billion this year, 70 billion in the coming year (…) How do you want to finance public policies for the 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 Pierre Moscovici. “There is a Gordian knot between economic uncertainty, political instability and financial degradation. We must cut this knot and to cut it, we must resolve the political question”he summarized.