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Lagarde says France needs a credible path to cut debt

Reported · Written up by our desk · Central Banks

European Central Bank President Christine Lagarde said France’s debt situation is “serious,” at 120% of GDP, and lacks a clear path to reducing it, according to FXStreet.

The commentary came alongside a reminder that the ECB sets interest rates and manages monetary policy for the euro area, with its mandate focused on maintaining price stability.

FXStreet also noted that the ECB’s approach relies on adjusting interest rates, which can affect currency strength, and that the ECB Governing Council meets eight times per year to make policy decisions.

The report cited Lagarde as one of the permanent members of the Governing Council that helps set those monetary policy decisions.

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