🇫🇷Risks Remain On Poor French Fiscal Position: Cable FX Macro

• Fiscal discipline comes to mind in a year of elections, spending is good for domestic growth as long as deficits are within the rule. Markets adjust their views on officials' plans and growth outlooks to help them determine if an issuer holds a healthy fiscal position

• While the far-right risks are out of the way in France, a plan to fix its finances is key from here on. We have already heard of spending cuts as the EU said the government needs to find EUR15 billion annually to meet demands

• Currently, the French state holds a fiscal deficit of 5.5% of its GDP, while the ratio is slightly better than in Italy, the net amount of debt stands at $3.14 trillion, higher than any other EU nation