France, Bayrou raises alarm over super-debt. Le Pen calls for dissolution of National Assembly

'Our country is in danger because we are on the brink of over-indebtedness and we must act without delay'. This is what French Prime Minister François Bayrou said at a press conference in Paris. Immediate reaction from the markets. "In the last 20 years, every hour of every day and every night, our debt has increased by 12 million euros per hour," Bayrou said, pointing out that French debt has grown by 2 trillion euros in the last two decades: 1 trillion between 2005 and 2015 and another 1 trillion between 2015 and 2025. 'Dependence on debt in France,' he said, 'has become chronic. "Debt spending will become the country's most important budget item this year," he explained. "The instalments we have to repay will be heavier than the national education budget and that of the armed forces. "Last year it was 60 billion. This year it will be 66 billion. Next year, in 2026, it will be 75 billion in the best case." "If the path we choose is to pretend that the problem does not exist, then I tell you we will not get out of it." But, adds the French premier, 'I will not allow our country to sink into this risk: France cannot ignore this danger'.

The French Prime Minister François Bayrou announced at a press conference in Paris that he will commit himself to discuss the 'responsibility of the government' before the National Assembly, meeting in an extraordinary session on 8 September, on the 'central issue' of 'controlling our finances'. On that occasion, the government will ask for parliament's confidence and the vote will 'confirm the extent of the effort' of almost 44 billion euros to reduce the French public deficit, and only then will 'each of the measures of this emergency plan be discussed'.

The French Socialists, however, consider a positive vote of confidence in Francois Bayrou's government 'unimaginable'. This was stated by the leader of the transalpine Socialist Party, Oliver Faure, in an interview with 'Le Monde'.

Marine Le Pen confirmed that the Rassemblement National (RN) will 'obviously vote against confidence in François Bayrou's government', something that had already been announced by the party's president, Jordan Bardella, and called for the dissolution of the National Assembly, saying that 'only dissolution will now allow the French to choose their destiny, that of recovery with the Rassemblement national'.

"François Bayrou has clearly not understood that the French are fully aware of the economic and financial crisis in which our country is plunged after eight years of Macronism, a crisis that comes on top of so many other failures that threaten the very survival of our nation. It is precisely because they have understood the seriousness of the situation that our fellow citizens reject the Prime Minister's measures, which are as unfair as they are ineffective.Our fellow citizens also know who is responsible for this collapse, namely the parties of the system that we have been fighting for so many years: the left, the right and the Macronists Everyone is responsible and guilty, except for the Rassemblement National and the project that we are pursuing. It is precisely for this reason that the system allied itself in the last elections to prevent real change," Le Pen wrote. "We will obviously vote against trusting François Bayrou's government. Only dissolution will now allow the French to choose their destiny, that of recovery with the Rassemblement National,' she concludes.