Who would want to be be President of France right now? Forget for a moment the war in Ukraine. Put aside the massive losses by the state-owned electricity giant EDF and the corresponding windfall profits of the privately-owned Total-Energies, the country’s leading oil and gas producer. Never mind the fact that many high street chains are in deep trouble, hit by falling sales and threats of bankruptcy. Ignore the scale of the national debt as it nudges 115 per cent of nominal GDP.
Tricky road ahead for Michel Barnier, France’s new Prime Minister
Barnier faces an uphill battle to command cross-party support in France’s bitterly divided hung parliament.Â