Lecornu warns rate rise would add €10bn to France's debt costs
French Prime Minister Sébastien Lecornu is also reaching out to National Rally to align the government's budget plans, Les Echos reports.
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French Prime Minister Sébastien Lecornu says a rise in interest rates would add €10bn to the cost of servicing France's debt.
Lecornu did not specify which rate move he was referring to or over what period the €10bn figure would apply.
The warning comes as Lecornu works to align his budget plans with National Rally, according to Les Echos.
The figure puts a number on the fiscal risk the government faces from higher rates, at a time when France is already cutting its growth forecasts. Lecornu's own framing treats this as a problem already built into how markets price French debt, rather than a new shift in the outlook, and his statement reads as an argument against letting rates climb further, not a description of a fresh move in borrowing costs.