Mélenchon Plans Central Bank Debt Cancellation, Critics Warn
French far-left candidate Jean-Luc Mélenchon has revived a proposal to cancel 18% of the public debt held by the Bank of France to free fiscal space, a plan that has drawn cautious support from some allies but fierce legal and economic criticism from opponents. Critics warn it would amount to central-bank financing of the government and could spook markets, with debt levels around €3.5 trillion and a debt-to-GDP ratio above 116%, while EU treaties explicitly prohibit such moves and officials say the idea is dangerous and unworkable.
Politics · 6 sources · Aug 27, 2026Read itThe journal
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About Matthieu Pigasse
Matthieu Pigasse is a French investment banker, media mogul and investor. He was Lazard's Global Head of Mergers and Acquisitions and Sovereign Advisory, as well as CEO of Lazard France. He is now head of Centerview Partners in France.
Everything about Matthieu Pigasse →- Occupation
- entrepreneur, politician, investment banker, businessperson
- Position held
- chairperson of the executive board, chairperson, chairperson
- Citizenship
- France
- Born
- May 25, 1968