France's Debt Dilemma: A Call for Strategic Reforms

French Prime Minister Francois Bayrou addresses the nation's escalating debt issue and the critical need for pension reform. He emphasizes the importance of strategic partnerships within Europe and calls for political and financial transformation, while discussing migration challenges and trade agreements like Mercosur.

In a compelling address to lawmakers, French Prime Minister Francois Bayrou sounded the alarm on the country's ballooning debt, describing it as a 'Damocles' sword hanging over our country and our social model.' Bayrou committed to exploring options for revisiting a contentious 2023 pension reform, with hopes of securing leftist support for the 2025 budget.

He criticized the political stalemate, attributing it to a cultural reluctance to embrace pluralism and urged a shift in 'democratic software.' Highlighting the significance of Europe's unity, Bayrou declared that France's prosperity is intertwined with that of the continent, advocating for Europe as a strategic community and a significant political power.

Amid debates on reducing the public deficit and reforming public finances, Bayrou announced a special fund for state reform and investment in artificial intelligence. He also underscored the urgency of addressing migration issues in Mayotte and New Caledonia, and criticized the terms of the Mercosur agreement, stressing the need for change.

(With inputs from agencies.)