Christopher Dembik

You certainly ask interesting questions.

Well, I don't see it as a big risk.

I think over the past two years we have seen that the French economy is not performing quite well, mostly due to the political situation.

We all expect uncertainty, political uncertainty will last at least until the next presidential election, so we have until 2027.

I'm very pessimistic regarding the outcome of the negotiation tonight.

I have some contacts in the government and apparently the bet is that we will have a new election.

in November potentially, but even if this happens, I don't think it will solve the situation.

So for most investors, or even when you talk with companies, anyone knows that the situation won't get better anytime soon.

So we are getting used to this.

I had recently talks with French investors that own French debt in quite large quantity.

What they told me is they are not afraid at all because basically over the past two years they have reduced the exposure to French assets.

So everything has already happened and I guess I'm not the only one pessimistic but most of the French business community is nowadays.

Well, from an investor point of view, I think the best is to have a new election or a technical government.

We are all quite afraid if we have a socialist or far-left government, obviously.

I think one of the biggest issues with the left is that they consider the French economy is in quite good shape.

But as a matter of fact, if you look at economic activity, we might be around 0.5% this year.

And they want to increase taxation.

You know, you have all the discussion how to increase much more taxation.

I don't think this is the right way to deal with the situation.

But if we have a left government, we are without obvious support from the far left.