“We really don’t know what’s going to happen after the election. We don’t know who will be elected. We don’t know what policies they will be elected on because nobody has had enough time to prepare policies,” said a fintech lobbyist.
Everyone POLITICO spoke to predicted that the CMU project would be dealt a major blow if either the far right or the far left were to enter Matignon.
“It’s always the French who suggest the ideas. [on EU finance policy]“Everybody is expecting it. [a far-right or far-left] “If the government opposes it, there will be fewer proposals. And there is a risk that in this particular context, when there are such huge geopolitical changes and something needs to be done to confront European decline, nothing will happen,” they added.
A fintech industry lobbyist said “there will be big concerns” about France’s future economic direction, including the country’s attractiveness as an investment destination and as a leader on the EU stage.
Despite concerns over plans by a future far-right or far-left government to push through major economic reforms, France’s economic establishment could water down any more radical ideas that might be proposed, the people said.
Liz Truss returns
One person said the situation in France could play out similarly to the British economic overhaul led by Prime Minister Liz Truss in 2022, when the government was forced to backtrack on plans due to market turmoil and opposition from the central bank and national regulators. Truss resigned in the aftermath.
