French Economy Minister Bruno Le Maire said on Friday he was "
worried
" about Britain's economic situation after the announcement of the Conservative government's costly fiscal plan Liz Truss, which sent rates soaring and the book.
“
I am not worried about the situation in the euro zone
”, but “
I am worried about the British situation
”, declared the minister on
Europe 1
, considering that “
spectacular announcements
” like those from Downing Street “
disrupt the market
“, “
disturb the financial balance
” and “
it leads to a real disaster
”.
Estimated by economists at an amount of 100 to 200 billion pounds, the announcements last week of the British government, the financing and the impact of which remain unclear and unquantified, have sown disorder on the markets.
The pound plunged to an all-time low of $1.0350 on Monday.
The interest rates at which the British State borrows have soared.
In an attempt to calm the storm, citing '
real risks to financial stability
', Britain's central bank was forced to intervene in markets, two days after assuring it would not act until its next meeting in early November .
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In France, "
we keep interest rates which remain reasonable
" and "
quite close to German rates
", because "
there is consistency in France's economic and financial policy
", explained Bruno Le Maire, unlike to what “
certain oppositions
” propose.
Moreover, “
leaving Europe has a considerable cost
”, because “
Europe is a protection
”, he added.
“
The euro zone protected us during the Covid-19 crisis
”, which “
saved our economy
”, estimated Bruno Le Maire.
“
Without the euro and without Europe, we could not have saved our economy as we did
“, he assured.