France Must Avoid Debt Crisis, ECB Bailout Unlikely: Bank of France Chief

Bank of France President Emmanuel Moulin warned France must avert a sovereign debt crisis ahead of the 2027 presidential election, explicitly ruling out ECB intervention as a backstop. This signals growing official concern over France's fiscal trajectory and could pressure French bond spreads. The warning is a notable shift in tone from French authorities, who have previously downplayed debt sustainability risks.