LCan France avoid the current economic situation? Although France is the largest borrower in the eurozone, the country’s rating has been downgraded several times by the rating agencies S&P and Fitch, French economic growth has weakened and ten-year interest rates have risen, a statement that until then remained secret, raising doubts. Did Bruno Le Maire, Minister of Economy at that time, deliberately hide the extent of the damage that occurred?
The letter, sent by the then tenant of Bercy to Emmanuel Macron on 6 April 2024, warned the President of the Republic of the magnitude of the decline in the public deficit. Stamped “confidential” in red capital letters, the six-point letter was revealed this Sunday, November 9 in the show’s edition C in special air aimed at budget irregularities and in which former ministers were questioned.
In the letter, Bruno Le Maire sounds a warning: “We cannot continue to stand out because of our high levels of expenditure and levies,” he warns, stating: “The decline in tax revenues in 2023 has caused our deficit in 2023 to be 5.5% against the forecast 4.9%.» And adds: “The problem is France’s political credibility in Europe. »
“Any avoidance strategy is doomed to failure”
The man in office in Bercy since 2017 also pleaded, in his notes, for a draft law to reform public finances: “It is essential that several of these savings objects are presented simultaneously. Otherwise, we risk being accused of hiding our copies and painful savings for the day after the European elections,” he underlined.
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Kangaroo todayAnswer
In May 2024, Economy Minister Bruno Le Maire was summoned by the Senate for allegedly hiding information about France’s budget gap from the government. #cdanslair revealed the letter he sent to the president at the time regarding this. pic.twitter.com/gRNeemLBni— C dans l’air (@Cdanslair) November 9, 2025
The man who has since been nicknamed “the man with a debt of 1,000 billion” by Bruno Retailleau, in his letter, pleaded for the deficit to be limited to 4.9% by 2024 – this year, the deficit should be set at 5.4% of GDP, compared with 2.5% in 2018. And ended with the Élysée tenant: “Our political interest is to maintain the spirit of courage and courage that is the hallmark of your manufacturing. Any strategy of avoidance is doomed to failure. » According to the first president of the Court of Auditors, Pierre Moscovici, the debt, which already exceeds 3,500 billion euros, will reach 118% of GDP next year.
