French government calls NFP programme “ineffective” and warns of risk of financial crisis

French government calls NFP programme “ineffective” and warns of risk of financial crisis
French government calls NFP programme “ineffective” and warns of risk of financial crisis


French Finance Minister Bruno Le Maire has warned of the risk of a financial crisis and economic decline in France, and has expressed his opposition to implementing the New Popular Front (NFP)’s electoral programme, considering it an “ineffective and outdated” plan.

While welcoming the fact that the far-right National Rally party failed to achieve its electoral goals, ultimately becoming the third-largest force in the legislative elections, Le Maire warned that the resulting new political situation presents three main risks, the most immediate of which is “a financial crisis and the economic decline of France.”

In this regard, he argued that the implementation of the New Popular Front’s break-up programme would “destroy the results” of the policy implemented by the Government during these seven years and which “has given France jobs, attractiveness and factories”.

According to the current French finance minister, the project proposed by the NFP “is exorbitant, ineffective and outdated”, and he considers that “its legitimacy is weak and circumstantial”. “It should not be applied”, he summed up.

Le Maire also pointed out the risk of an “ideological fracture of the nation” that would lead to incessant disputes and collective exhaustion, and stressed the need to respond to the anger and concerns of citizens, particularly the millions who voted for the National Rally.

“We must act differently. We must listen, hear, respond without delay, involving all the forces of the nation,” said Le Maire, who believes that otherwise France will go straight to a blockade and a crisis of the regime.

Finally, regarding the outcome of the National Assembly, which brings together supporters of President Macron, the French minister has acknowledged the dispersion of his forces and ideas, which makes it urgent to regain coherence and lucidity to address the reality of the world.

In this regard, he recalled that there are still challenges such as the war in Ukraine, the conflict in the Middle East, fierce economic and technological competition between nations and the acceleration of global warming.

“France cannot remain a spectator of these upheavals. It must be a major player,” he said, calling on all political forces that believe in the market economy, the recovery of public finances, the energy transition, European construction and the restoration of state authority to free themselves from party interests in order to continue the transformation of the economy and the social model.

For Latest Updates Follow us on Google News


PREV The Carmen Thyssen Museum exhibits 150 photographs from the collection of José Luis Soler
NEXT BCRA will have to raise the interest rate in pesos to help Milei / Caputo