Story perspectives

Lagarde Rejects Plan to Cancel 18% of France Debt

By Drooid · Sep 12, 2026, 12:17 PM UTC · How we work

Summary

Story summary

ECB President Christine Lagarde rejected Jean-Luc Mélenchon’s plan to cancel about 18% of France’s public debt.
Lagarde said the cancellation would breach Article 123 of the EU Treaty.
She warned creditors would punish France with higher interest rates.
Lagarde said the ECB will raise the rate charged to France after lifting the deposit rate to 2.5%.

1 of 1

Story summary

ECB President Christine Lagarde rejected Jean-Luc Mélenchon’s plan to cancel about 18% of France’s public debt.
Lagarde said the cancellation would breach Article 123 of the EU Treaty.
She warned creditors would punish France with higher interest rates.
Lagarde said the ECB will raise the rate charged to France after lifting the deposit rate to 2.5%.