Investing.com UK on Nostr: France could be headed for a difficult return to reality - ING ========== France is ...
France could be headed for a difficult return to reality - ING
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France is facing a challenging economic outlook with robust fiscal deficits and high debt, according to a report by ING Economics. The European Commission has proposed placing France under Excessive Deficit Procedures (EDP) due to its fiscal situation. The country's political situation is expected to be complicated, and indicators do not suggest the appointment of a prime minister favorable to the president. France will hold legislative elections between June 30 and July 7, with the far-right National Rally party leading in the polls. The National Rally party aims to conduct a financial audit before implementing robust measures, while the current Prime Minister's bloc plans to seek greater balance in public accounts. The prime minister is appointed by the president but requires a majority in the National Assembly to govern. If a motion of no confidence is passed against the government, the prime minister is obliged to resign. The president can dissolve the Assembly, but not within a year of the previous dissolution. France's economic challenges are expected to become more apparent as the European Council is likely to confirm the Commission's proposal to place France under the EDP by mid-July, and the country will have to propose a fiscal adjustment path by September 20.
#France #Economy #FiscalDeficits #Debt #ExcessiveDeficitProcedures #LegislativeElections #NationalRallyParty #PrimeMinister
https://uk.investing.com/news/economy-news/france-could-be-headed-for-a-difficult-return-to-reality--ing-3558212
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France is facing a challenging economic outlook with robust fiscal deficits and high debt, according to a report by ING Economics. The European Commission has proposed placing France under Excessive Deficit Procedures (EDP) due to its fiscal situation. The country's political situation is expected to be complicated, and indicators do not suggest the appointment of a prime minister favorable to the president. France will hold legislative elections between June 30 and July 7, with the far-right National Rally party leading in the polls. The National Rally party aims to conduct a financial audit before implementing robust measures, while the current Prime Minister's bloc plans to seek greater balance in public accounts. The prime minister is appointed by the president but requires a majority in the National Assembly to govern. If a motion of no confidence is passed against the government, the prime minister is obliged to resign. The president can dissolve the Assembly, but not within a year of the previous dissolution. France's economic challenges are expected to become more apparent as the European Council is likely to confirm the Commission's proposal to place France under the EDP by mid-July, and the country will have to propose a fiscal adjustment path by September 20.
#France #Economy #FiscalDeficits #Debt #ExcessiveDeficitProcedures #LegislativeElections #NationalRallyParty #PrimeMinister
https://uk.investing.com/news/economy-news/france-could-be-headed-for-a-difficult-return-to-reality--ing-3558212