Lagarde Slams Mélenchon Debt Plan as Financially Perilous

ECB President Christine Lagarde has expressed concern over a far-left proposal to reduce France's debt burden by canceling bonds held by central banks. French presidential candidate Jean-Luc Mélenchon's plan, which has dominated economic policy debates ahead of next spring's elections, would be 'financially dangerous', according to Lagarde. The idea involves canceling bonds held by the Bank of France and the European Central Bank (ECB).

Lagarde's comments come as Mélenchon's proposal continues to spark heated debate in France. The plan has been met with skepticism from many economists, who warn that it could lead to a loss of investor confidence and higher borrowing costs for the French government.