February 5, 2023

There should not be any ‘crash’ in French and European economy

There should not be any 'crash' in French and European economy - ECB's Villeroy


© Reuters. FILE PHOTO: Francois Villeroy de Galhau, Governor of Banque de France, attends the Paris Europlace International Financial Forum in Paris, France, July 12, 2022. REUTERS/Benoit Tessier

PARIS (Reuters) – The French and broader European economy should not suffer any “crash” or “hard landing”, European Central Bank (ECB) member and Bank of France head Francois Villeroy de Galhau told BFM TV on Tuesday.

“France should be able to avoid a recession,” he added.

On Saturday, the Bank of France forecast that the French economy was set to slow sharply next year but should recover some lost ground from 2024. The euro zone’s second-biggest economy is on course to slow from 2.6% growth this year to only 0.3% in 2023, the Bank of France said in an update of its long-term economic outlook.



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