PARIS (Reuters) – Bank of France head François Villeroy de Galhau said on Thursday he hoped the current French political gridlock would be solved by September, when the parliament of the euro zone’s second largest economy must vote the country’s budget.
Last Sunday’s parliamentary election has plunged France into uncharted waters, with three politically divergent blocs emerging and with no obvious path to forming a government.
The New Popular Front (NFP), a hastily assembled alliance of the hard-left France Unbowed party and the Socialist, Green and Communist parties, unexpectedly won the most seats in Sunday’s vote, but did not win an outright majority.
“Whatever choice is made, we must reduce the deficit,” Villeroy told franceinfo, adding the French economy was resisting well while remaining fragile.
(Reporting by Benoit Van Overstraeten; Editing by Sudip Kar-Gupta)
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