Lagarde Warns of 'Serious' French Debt Situation Amid ECB Stability

Christine Lagarde, President of the European Central Bank (ECB), has warned that France's debt situation is 'serious' at 120% of GDP and lacks a clear path to reduction. She emphasized the need for a credible budget trajectory and reforms to restore investor confidence.

Lagarde made these remarks during an interview with La Croix, stating that the European financial system is more solid now than it was during the 2008 and 2011 crises. However, she also acknowledged that France needs to address its debt burden to maintain stability in the region.

When asked if she would consider running for French president, Lagarde firmly stated that 'that would not be a good idea at all.' She also revealed that her planned departure from the ECB is only by a few months.