France can't count on ECB to fix debt woes, central bank chief says - Devdiscourse
France can't count on ECB to fix debt woes, central bank chief says - Devdiscourse
Source: Devdiscourse
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DW NOTE
The ECB's chief just told France what markets already priced in: there's no monetary escape hatch for fiscal incontinence when inflation is running at 2.8% and the 10-year German bund yields 3.4%. France's deficit hit 5.5% of GDP in 2025, double the Maastricht limit, and debt service costs are rising into a rate environment the ECB can't ease without breaking its mandate.