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ECB's Villeroy: France should stabilise public spending, focus on the wealthy first

Published by Global Banking & Finance Review

Posted on June 6, 2025

1 min read

· Last updated: January 23, 2026

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ECB's Villeroy: France should stabilise public spending, focus on the wealthy first
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PARIS (Reuters) -France cannot go on piling up debt and should stabilise its public spending, an effort to which everybody should contribute starting with the most wealthy, Bank of France head and

Villeroy Advocates for France to Control Public Spending and Tax the Wealthy

PARIS (Reuters) -France cannot go on piling up debt and should stabilise its public spending, an effort to which everybody should contribute starting with the most wealthy, Bank of France head and European Central Bank member François Villeroy de Galhau said on Friday.

"There's no reason why we shouldn't succeed, but we need to make an effort that is fair and shared, the French are legitimately very sensitive to this. Everyone must do their bit, starting with the most privileged," he said on France 2 television.

(Reporting by Benoit Van Overstraeten; Editing by GV De Clercq)

Key Takeaways

  • France needs to control its public spending.
  • Villeroy suggests taxing the wealthy first.
  • A fair effort is required from all citizens.
  • France's debt levels are a concern.
  • The French are sensitive to economic fairness.

Frequently Asked Questions

What does Villeroy suggest about public spending in France?
Villeroy suggests that France cannot continue to accumulate debt and should stabilize its public spending.
Who does Villeroy believe should contribute to stabilizing public spending?
He believes that everyone should contribute, starting with the wealthiest individuals.
What is the public sentiment regarding economic contributions?
The French population is very sensitive to the issue of fairness in contributions to public spending.
What is the overall message from Villeroy's statements?
Villeroy emphasizes the need for a fair and shared effort to stabilize public finances in France.

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