French President Emmanuel Macron dissolved the Legislative Assembly and called for early elections. In this context, the Paris stock market fell more than 6% in the week.
After the call for early general elections called by the French president Emmanuel Macron, the French finance minister, Bruno Le Mairefears a financial crisis.
“This is due to the political programs that are on the table regarding the question of whether we will be able to continue financing our debt,” he explained this Friday in an interview with the radio franceinfo.
When asked if the current political instability can cause a financial crisis, Le Maire said that if he considers that this could happen whether the National Group (RN, for its acronym in French) of Marine Le Penas if the new National Front newly formed by the leftist parties come to power in the National Assemblythe highest legislative body in the country.
In that context, the paris stock exchange fell 2.7% this Friday at 7,503.27 units. Thus, he accumulated a red of 6.2% in the week.
Le Maire predicted a financial crisis and asked the electorate to support Macron’s policies
About the program National Groupcommented that “When I look at the extreme right, I see a program that is made of lies”. Le Pen’s party, under its slogan “France first”, proposed increasing public spending, despite the high french public deficitwhich recently caused a rating cut by the S&P Global agency.
Regarding the program of National Frontwho promised to repeal the controversial pension reform carried out by Emmanuel Macron, Le Maire noted that it would cause an “economic collapse” and described it as “complete madness.”because “it will cause a rating downgrade, massive unemployment and exit from the European Union.”
“Today we pay more than Portugal for our debt. This is due to the political programs that are on the table” by the opposition, added La Maire, who also asked voters to bet on the moderate policies of Macron’s party.
Source: Ambito
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