President Emmanuel Macron’s camp argues that the National Rally measures could cost over €100 billion annually, citing an independent estimate, while proposals from the left-wing alliance could cost up to €268 billion. The National Rally, however, has backpedaled on some of its most expensive ideas.
Le Maire said France could experience the same dire consequences that followed a spending plan presented two years ago by then-U.K. Prime Minister Liz Truss, which resulted in her almost immediate downfall.
His comments come as the European Commission prepares on Wednesday to name and shame France and other 10 EU countries for not respecting EU debt rules.
Le Maire rejected the idea that the markets are anxious due to France’s already worrying budget situation. “Absolutely not! The markets are simply afraid of the economic and financial folly of the extreme left and right.”
