French presidential candidate Mélenchon attacks ECB rate hikes, proposes debt cancellation

TREE NEWS update: French far-left presidential candidate Jean-Luc Mélenchon has sharply criticized European Central Bank rate hikes, warning they pose risks to economic growth. He proposes canceling part of France’s debt held by the ECB and the Bank of France, arguing it is “essentially debt we owe to ourselves.” The comments come as Frankfurt policymakers are widely expected to implement a second rate hike this week to curb inflation, with France having narrowly avoided recession in the first half of the year.