r/europe • u/Budget_Company1432 • 2d ago

News Macron vows to serve out presidential mandate despite budget crisis

https://www.france24.com/en/france/20250829-macron-vows-to-serve-out-mandate-to-its-end-despite-budget-crisis
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u/PureCaramel5800 2d ago

Like Macron, don't like Macron - it really does not matter. France has be running a pro-cyclical deficit for a long time, France's budget deficit was 5.8% of its GDP in 2024, and GDP growth has been anemic like the most of western Europe and now the interest expense on the debt is skyrocketing.

France can either implement reforms or it might very well end up having to beg the IMF for money.

You can't have your cake and eat it!

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u/Greenelypse France 2d ago

Yes but when we try to reform then the average French person riots because ”tax the rich instead“. So we’re screwed.

Also I think we should both reform AND tax the rich.

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u/PureCaramel5800 2d ago edited 2d ago

I know, it's a really bad place France is in right now politically and financially. And I think that there is reason to blame all parties for the mess and I very much agree with the notion of the broadest shoulders carrying the heaviest load(progressive taxes). But I think that a lot of french people just don't seem to get how scary the bond market and increasing budget deficit really are looking. Either you find a way to pass reforms or this will get really bad, really fast.

I really hope that you find a way to pass needed reforms for the future of young french people and Europe!

Edit: Typo