Lagarde Warns France's Debt Crisis Needs Urgent Attention

European Central Bank (ECB) President Christine Lagarde has sounded a warning about France's debt situation, stating that it is 'serious' at 120% of GDP and lacking a credible path to reduction. In an interview with La Croix newspaper, Lagarde emphasized the need for France to establish a credible budget trajectory and implement reforms to restore confidence in its financial system.

Lagarde also noted that the European financial system is more solid than it was during the 2008 and 2011 crises, but highlighted the importance of addressing France's debt issues. When asked if she would be a candidate for French president, Lagarde firmly replied that 'that would not be a good idea at all.'