Published by Global Banking & Finance Review®
Posted on June 6, 2025
1 min readLast updated: January 23, 2026
France should stabilize public spending and focus on taxing the wealthy, says ECB's Villeroy. A fair effort is needed to manage debt.
PARIS (Reuters) -France cannot go on piling up debt and should stabilise its public spending, an effort to which everybody should contribute starting with the most wealthy, Bank of France head and European Central Bank member François Villeroy de Galhau said on Friday.
"There's no reason why we shouldn't succeed, but we need to make an effort that is fair and shared, the French are legitimately very sensitive to this. Everyone must do their bit, starting with the most privileged," he said on France 2 television.
(Reporting by Benoit Van Overstraeten; Editing by GV De Clercq)
Villeroy suggests that France cannot continue to accumulate debt and should stabilize its public spending.
He believes that everyone should contribute, starting with the wealthiest individuals.
The French population is very sensitive to the issue of fairness in contributions to public spending.
Villeroy emphasizes the need for a fair and shared effort to stabilize public finances in France.
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