Key facts
- French schools have experienced violent protests.
- Jordan Bardella, National Rally party president, denies allegations of antisemitic remarks.
- France's government proposed a 2027 budget with €43 billion in savings.
- The spread between French and German 10-year bonds rose above 150 basis points.
France's presidential campaign is grappling with a series of crises, including violent protests outside secondary schools, damaging allegations against a key far-right figure, and mounting concerns over the nation's sovereign debt. The situation has exacerbated partisan divisions and made it difficult for moderate candidates to gain traction.
Violent demonstrations have seen schools torched, with the far-left party France Unbowed, led by Jean-Luc Mélenchon, supporting the demonstrators and accusing opponents of fanning the flames. Le Pen's National Rally party, meanwhile, has used the unrest to position itself as the sole legitimate force for public safety.
Adding to the turmoil, Jordan Bardella, president of Le Pen's National Rally party and a potential prime minister, is fighting allegations of antisemitic remarks made when he was a teenager. Mediapart published further details verifying the claims, casting a shadow over his political future and potentially impacting Le Pen's campaign.
These events unfold as Prime Minister Sébastien Lecornu's minority government introduced a budget aimed at reassuring markets about France's significant debt and deficit. However, securing parliamentary approval for austerity measures is expected to be challenging. The borrowing costs for France have reached their highest levels since 2008, with the spread between French and German 10-year bonds widening significantly, indicating investor unease.