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The sustainability of French debt, between rising interest rates and European rules

· François Villeroy de Galhau, Governor of the Banque de France (France)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, public finances and debt

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· François Villeroy de Galhau Wiki · Banque de France WikiThe sustainability of French debt, between rising interest rates and European rules

ContextSpeech at a conference of the Haut Conseil des Finances Publiques in Paris; the Banque de France keeps prices stable and watches French public debt as rates rise.

Why it mattersVilleroy rejects blaming accommodative policy for France's high debt.

Problems raised
  1. French debt is high.
  2. Interest rates are rising.
  3. Accommodative policy is blamed for debt.
Solutions proposed
  1. Reduce public debt over time.
  2. Respect European fiscal rules.
  3. Keep monetary and fiscal policies independent.
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