MNIBRIEF: France Le Maire - RN Fiscal Policies "Foolish And Irresponsible"

French Finance Minister Bruno Le Maire on Friday described the fiscal policies of the far-right opposition party Rassemblement National as "foolish and irresponsible" and blamed them for triggering turmoil in the bond markets over recent days. 

Talking to reporters in Luxembourg ahead of the French National Assembly elections on June 30 and July 7, Le Maire said "Don't underestimate my total determination to come back to sound public finances by 2027. On the other hand, you have programmes put on the table by other parties and by the opposition with very significant public expenditure this explains the reaction on the markets and the worry expressed by the banking sector and fact we have a spread between Germany and France that has been increasing over the last days. This is one of the direct consequences of economic and financial programmes that are totally foolish and irresponsible."

Ministers gathering for the Eurogroup meeting later Friday will have a first discussion of the Commission's announcement on Wednesday that seven EU recorded an excessive budget in 2023, including France.