French Central Bank Chief Warns Government Could Be Held by the Throat by Interest Rates

This is a notable shift in tone from a central bank governor, framing sovereign debt exposure as a vulnerability rather than a technical budget issue. It matters because it signals that fiscal risk in a core euro-area economy is being discussed in stark, political language, which can feed into how markets price French debt relative to peers. The absence of any figure or policy action leaves the key question open: whether this is rhetorical pressure ahead of budget decisions or the start of a more explicit warning track from the central bank.