Banque de France Governor faces calls for resignation over budget comments

Emmanuel Moulin, Governor of the Banque de France, has faced intense political backlash following comments made during an international assembly in Bangkok regarding the French budget process. Moulin stated that the French Constitution contains mechanisms allowing a budget to be adopted even without a parliamentary majority, a remark widely interpreted as a reference to Article 49.3.

Moulin emphasized that the issue is political rather than technical, urging elected officials to “take their responsibilities” to ensure fiscal stability. He also clarified that neither the Banque de France nor the European Central Bank can substitute for elected officials in the legislative process.

In response, political figures from the Rassemblement National and La France insoumise have called for his resignation. Critics, including Jean-Philippe Tanguy of the Rassemblement National and Jean-Luc Mélenchon of La France insoumise, accused Moulin of political bias and overstepping his neutrality, labeling him a “Macronist” rather than an independent central banker.