After Fitch’s note and the presentation of the 2025 budget project, “the markets are beginning to look at us,” warns Pierre Moscovici
The president of the High Council of Public Finances (HCFP) and president of the Court of Auditors, Pierre Moscovici, estimated on Sunday that the Fitch agency’s rating reads: “We are not bankrupt” but “The markets are starting to look at us”. Fitch maintained France’s AA- rating on Friday, but lowered it “negative perspective”the day after the presentation of the 2025 budget project.
“He says that (…) we are not greece [placée en faillite en 2012] and we are not bankrupt”declared Pierre Moscovici, guest of the RTL Grand Jury.The Figaro-Public Senate-M6. “AA- is a good rating, but people are starting to look at us and ask us questions, wondering if our firm in the future will be as strong, if our credibility is strong”he added. “If the markets begin to look at us with more suspicion, there will be risk taking, it will be increasingly expensive (…), There may be a snowball effect.”said. “That is why this effort [budgétaire] it is necessary »he explained.
The President of the Court of Auditors also considered that it is ” essential “ to understand what happened in the management of the 2024 budget. “It is essential that we understand, not to question the responsibility of so-and-so (…) but so that it doesn’t start again.”He continued, announcing that “The Court of Auditors will play its role”.
“In May we will make an extremely precise analysis of what will happen in 2024”Moscovici added. According to him, “There is a truth that must be established, there are facts that must be shown, processes that must be explored”. “It is very important that we know what happened and in a technical, objective, informed way. The Court of Auditors will do it in May, it cannot be ruled out that Parliament will decide to do it more quickly.” through a parliamentary commission of inquiry, he stressed.
