Bordeaux Métropole announces rescue plan amid fiscal crisis

Thomas Cazenave, mayor of Bordeaux and president of Bordeaux Métropole, has announced a rescue plan to address an unprecedented fiscal crisis. Financial audits conducted by EY reveal that the metropolitan area is carrying an estimated historical debt of 2.3 billion euros. The region’s debt-repayment capacity is currently calculated at 19.2 years, exceeding the 12-year alert threshold.

The crisis is attributed to several factors, including operational spending growing nearly twice as fast as revenue, rising payroll expenses, and high investment levels financed by debt. To prevent a state takeover by the Prefecture of Gironde, the administration aims to achieve 182 million euros in management savings by 2033. This includes 150 million euros in cuts over the next three years, with 72 million euros targeted for 2027. Additionally, the multi-year investment plan (PPI) may be reduced by 1 billion euros over the current mandate.

The rescue strategy involves four main pillars: consulting with the Prefect and the regional finance director, tasking Vice-President of Finance Emmanuel Sallaberry with developing a large-scale savings plan, involving all metropolitan elected officials in the process, and convening an extraordinary metropolitan council meeting in November to debate the proposals.