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Story summary
- France’s debt reached a record 119% of GDP, sparking fiscal concerns ahead of the 2027 election.
- The government proposed €54 billion cuts yet expects the 2026 budget to exceed EU limits.
- Jean-Luc Mélenchon called for canceling ECB-held French bonds to free funds for public spending.
- ECB President Christine Lagarde warned the plan would breach EU treaty rules on central-bank financing.