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Markets will be ‘upset' if new French government does not commit to fiscal rules, European Central Bank's vice-president says

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“What we have seen so far is that the evolution of [French] markets has been quite orderly,” the vice president of the European Central Bank told…

"The reason why, you know, markets would be upset ... for any government, not only for France, is that fiscal policy does not adapt to the new fiscal framework," European Central Bank Vice President Luis de Guindos told CNBC on Tuesday.

the split suggested a potential hung parliament in the second round on Sunday. This was viewed as a favorable fiscal result by many investors, who are"I think that this is not about monetary policy, this is about fiscal policy," De Guindos told CNBC on Tuesday. Even under the current business-friendly centrist government led by Prime Minister Gabriel Attal, an ally of Macron, the Commission in Juneto France and six other countries for their high budget deficits. France's debt to GDP ratio was 110% last year."Let's see, but ... so far, the evolution of markets has been quite ordinary. We have not seen any, let's say, turmoil, or chilblains in markets.

 

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