The countdown has begun, candidates will have to open accounts, or even obtain credit, in record time. The banks still need to follow suit.
The president of the National Campaign Accounts Commission, Jean-Philippe Vachia, is worried. He fears that the banks will not be able to manage all the requests from candidates for the early legislative elections in such a short time.
It must be said that the countdown has started, the candidates (4 to 5,000 in total) will have to open accounts, or even obtain credits in record time.
“I am very concerned and concerned that the banks are reactive to open the bank accounts of the representatives of each candidate as quickly as possible. We know that in each election, there are problems, difficulties but over six months, it ends up settle. There we are over three weeks and so I am really concerned that the banks are playing the game with the agents,” he worries.
And to continue: “the second thing is that a certain number of candidates will turn to their banks to borrow and there too, the deadlines must be made compatible with the timetable”.
30 to 40,000 euros needed
A legislative campaign can require 30 to 40,000 euros and as with any borrower, the banks will look closely at the candidate’s ability to repay.
Everyone still has in mind the example of Valérie Pécresse, who did not obtain reimbursement for her campaign during the presidential election. As a result, the banks risk not rushing to the gate.
Especially since some are traditionally reluctant to finance electoral campaigns, a bank manager tells us.
Others are more reassuring, explaining that they were able to manage EMPs in record time during the Covid crisis, all of which should not pose a major problem.
When questioned, the French Banking Federation indicated: “this is a well-identified subject. Everyone will do their best while respecting the requirements which are strong. Hence the usefulness of candidates knowing these rules well.”
Caroline Morisseau with OC
