European Central Bank (ECB) President Christine Lagarde on Thursday criticised a proposal by left-wing French presidential candidate Jean-Luc Mélenchon to cancel France’s debt held by the central bank.
Lagarde said the proposal by the La France Insoumise (LFI) leader was “really not a good idea” during a press conference following the ECB’s announcement of another increase in its key interest rates.
The president added that the move would amount to a “clear violation of the treaty” on the European Union.
Mélenchon’s proposal essentially entails cancelling the 18% of France’s debt that is currently held by the country’s central bank. He first…
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