French Finance Minister Bruno Le Maire expressed fears that the euro zone's second-largest economy could face a financial crisis if the far-right National Rally party, led by Marine Le Pen and currently leading in opinion polls, wins the upcoming elections on June 30 and July 7. The National Rally proposes policies such as lowering the state pension age, lowering energy prices, and increasing public spending, which have caused unease among investors.
Some ECB governors are comparing the situation in France to Italy's experience in the summer of 2022, when a centre-right coalition led by Giorgia Meloni was expected to win the general election. After her victory, Meloni softened her stance towards European institutions, a shift that European Central Bank governors hope will be reflected in Le Pen if her party succeeds.
