Global EconomyIMPORTANT
ECB's Moulin (Bank of France) warns the country risks being strangled by interest rates if it does not act to clean up its public finances
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Moulin warned that France’s public finances need cleanup to avert interest-rate pressure, while saying confidence could return and market and energy pressures may curb demand and further central-bank action.
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France could win back investor confidence despite serious and worrying moves on sovereign debt markets. "France is not Greece during the Eurozone crisis". Rise in long term yields, tighter financial conditions and the second energy shock may hamper demand and reduce need for further action by central banks.
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