In Brussels, the duty of a neighboring country arouses concern. “We find a few small skids”
Photo: IPA, Independent Photo Agency SRL / Alamy / Profimedia
In the extremely tense international context since the beginning of September, the political crisis that shakes France does not attract, in the European environments, all the attention that it would have been worth “in normal times” the fall of the second economy of the European Union, writes the Belgian newspaper Les Echos, quoted by the Rador press agency.
Highly large attack on Kiev at the weekend, new commercial intimidations from Donald Trump, preparing new sanctions against Russia: there are more serious threats. However, at least one person follows the French situation very carefully: the Commissioner for Economic Affairs, Valdis Dombrovskis (photo). Responsible for the rules of governance and the reformed stability pact in 2024, after a long conflict between Paris and Berlin, he carefully analyzes the hexagon finances.
A trajectory to be respected
Last week, he paid a visit to Paris, Pierre Moscovici, the president of the Court of Accounts, who could offer him a precise image. This year's public deficit seems to remain around 5.4% of GDP, according to forecasts. But what will happen to the deficit of 2026, in such an unpredictable environment?
In June, Valdis Dombrovskis had addressed to Paris if not a “satisfactory”, at least a “sufficient” to respect the adjustment trajectory presented in Brussels. “We find a few small skids,” Latvian commissioner noted simply. Specifying that if these deviations become “confirmed risks”, measures will be taken to correct the trajectory “.
A high -ranking official of the Commission notes last Friday that, for now, markets do not sanction much French political instability. Last Thursday, Bercy managed to place 11 billion euros without difficulty in long -term bonds, but for the 30 -year -olds the yield has approached the highest levels of 2009.
“We know that, in certain crises, the situation can get out of control, interest can explode in an irrational process,” the official worries. The big rating agencies are to be pronounced on the debt of France during the fall – in the case of this Friday.
In Brussels, another topic raises many question marks: the debate on France's contribution to the European budget. The fact that a political manager with a European DNA as François Bayrou converges with Marine Pen in considering that the French contribution should be reduced.
A biased calculation
The commission is criticized this pseudo-indicator of the net contribution (gross contributions minus the funds returned by Europe), which do not reflect reality. “In this calculation, only the funds oriented on geographical criteria, such as CAP or cohesion policy are included in this calculation, but not the funds allocated on the criterion of excellence,” explains a high -ranking official.
He gives as an example the hundreds of millions of euros that the battery plants of Verkor and ACC in France are to receive. It also evokes all the invisible advantages of belonging to the EU. The debate has been launched and risks to hold the position of France considerably in the ongoing negotiations regarding the future budget framework 2028-2034.
The Parliament of France did not grant Monday to Prime Minister Bayrou the vote on his confidence for reducing the growing public debt, which deepens the political crisis and puts President Emmanuel Macron in search of a fifth prime minister in less than two years, informs Reuters.
