UBS economist: French fiscal concerns reflected in interest spreads on French treasury bonds compared to German treasury bonds have been eased, as both the French government and the National Union led by Le Pen have responded to market pressure with stronger fiscal discipline. In the absence of further details, the deficit target proposed by far-right leader Marina Le Pen seems more like a vision: France has never achieved a fiscal adjustment of more than 0.8% of GDP in two consecutive years.

UBS economist: French fiscal concerns reflected in interest spreads on French treasury bonds compared to German treasury bonds have been eased, as both the French government and the National Union led by Le Pen have responded to market pressure with stronger fiscal discipline. In the absence of further details, the deficit target proposed by far-right leader Marina Le Pen seems more like a vision: France has never achieved a fiscal adjustment of more than 0.8% of GDP in two consecutive years.