France needs to limit public spending whoever becomes PM, BNP Paribas CEO says
By Mathieu Rosemain
PARIS, July 24 (Reuters) -France will have to limit public spending whoever becomes its next prime minister, the head of France's biggest bank said on Wednesday, as the country copes with political turmoil after a snap parliamentary election.
The election, called by President Emmanuel Macron, has delivered a hung parliament in which the leftist alliance unexpectedly came first, unnerving investors concerned over public finances.
"The parliament is going to be very much, I would say, balanced because it has to be that way," BNP Paribas' chief executive Jean-Laurent Bonnafe said in a call with analysts when asked about the political situation in France.
"It's very difficult to understand who is going to be the prime minister, who is going to be the minister for finance, and so on and so on, but it's not that difficult to understand that at the end of the day, this country needs additional discipline in terms of public spending," he said.
"The country will have to comply with a number of norms, and that's it," he added.
Reporting by Mathieu Rosemain
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