“It’s time”: Pierre Moscovici, first president of the Court of Auditors, welcomes François Bayrou. “An effort is necessary, hence the expression of the Prime Minister ‘The Moment of Truth’, which resumed on my own,” he said in an interview with El Parisino.
When asked about the acceptability of this plan by the population, Pierre Moscovici believes that “the French are contradictory.” “Now they are worried about French about the invention,” says the senior official.
“Are these two essential worked vacations?”
The president of the Pierre Moscovici Auditors Court “does not believe that France is threatened with a supervision” by the IMF, but urges the “structural reforms” to avoid “the austerity suffered tomorrow.”
“France is not Greece of 2009-2020! I don’t think it is necessary to scare the threat of the IMF,” he said. According to him, these dangers are “the strangulation of public action due to the excess of the debt load” and “the deterioration of our financing conditions in the markets.”
“What matters are structural reforms. This is the whole difference between austerity and seriousness: France has the option between a voluntary effort and austerity suffered tomorrow,” he said.
He also asked about the relevance of eliminating two vacations, referring to the question to the public debate.
The white year, “a unique shot”
For Pierre Moscovici, “whatever the composition of the measures” that will finally be kept, it will be necessary to reach 44 billion euros in savings, “because the payment of the interests of the debt is the most stupid public spending of all.”
“We dedicated 67 billion euros in interest to the reimbursement of this debt every year, which could reach 3,500 billion euros at the end of the year, according to the President of the Court of Auditors.” It was a bit of thirty (one billion) in 2021, and it can be 100 billion euros before the end of the decade. This cannot continue like this, “he said.
Therefore, efforts are necessary, but they must be shared fairly according to him. In “The White Year”, the president of the Auditors Court has doubts. “This is undoubtedly financially effective. But it will be necessary to verify that this does not despite the income from the bottom of the scale,” he explains.
“An impact on consumption, investment and, ultimately, growth”
“The French must be aware that we will have every year, for four or five years, difficult options to make, therefore, lasting reforms, until we reach 2.8 % of the deficit. This is only where we manage to find space for the maneuver,” he said. But at the same time, these savings will not be painless for the French economy.
“But depending on the elections that will be taken, the economic effect can be more or less,” mate.
François Bayrou presented a budget cure on Tuesday of 43.8 billion euros by 2026, with the abolition of two vacations and the freezing of social benefits and pensions, immediately criticized by oppositions that threaten censorship in Parliament. The prime minister said on Saturday giving “two months” to end this plan.
Source: BFM TV
