France’s economic situation is serious as borrowing costs rise, but the country does not currently need help from the European Central Bank, Bank of France head Emmanuel Moulin said on Wednesday.⁣ ⁣ French borrowing costs have surged amid a global bond selloff, with investors concerned that the country’s fragile public finances could affect the wider euro zone.⁣ ⁣ Moulin said France’s higher borrowing rates were linked to its larger deficit and political uncertainty over the government’s budget. He said passing a deficit-cutting budget was vital.⁣ ⁣ Prime Minister Sébastien Lecornu’s government aims to reduce the budget deficit from 5.4% of economic output this year to 5% next year.⁣ ⁣ Lecornu’s government faces opposition from both the far right and far left ahead of the 2027 presidential election. His two predecessors were both toppled in budget disputes.⁣ ⁣ #France #Economy #Eurozone #ECB