Mélenchon Proposes Cancelling €3.5 Trillion in French Debt

French presidential candidate Jean-Luc Mélenchon has proposed that the European Central Bank cancel Paris' debt, amounting to over €3.5 trillion, or 117.5% of GDP.

The far-left leader wants the ECB to waive interest payments on a massive tranche of French bonds, which critics call 'madness' and 'irresponsible.'

Prime Minister Sébastien Lecornu called it a 'scam in its purest form,' while former European Commissioner Thierry Breton penned an op-ed against the proposal.