French PM Michel Barnier warns of debt crisis, calls for fiscal restraint and potential tax increases.

In his inaugural address, French Prime Minister Michel Barnier warned that the country's "colossal" debt poses a significant threat, calling it a "sword of Damocles." With a minority government and no ruling majority, he emphasized the need for fiscal restraint and potential tax increases to address the debt crisis. Barnier faces pressure from the EU to reduce debt while navigating a fragmented National Assembly, complicating his policy proposals.

October 01, 2024
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