French Presidential Hopefuls Clash on Economy, Debt in First Debate

The French presidential race for 2027 kicked off with a spirited debate as seven hopefuls presented their platforms at the Medef's summer university, La REF 2026. Held at Roland Garros, the event saw Gabriel Attal, Raphaël Glucksmann, Marine Le Pen, Jean-Luc Mélenchon, Édouard Philippe, Bruno Retailleau, and Marine Tondelier engage in over two hours of discussion on critical economic issues.

The candidates immediately revealed starkly different visions for France's future. Jean-Luc Mélenchon championed state intervention, while Bruno Retailleau criticized what he called a "voracious" and "obese" state. Gabriel Attal directly challenged Mélenchon, referencing controversial remarks by an LFI MEP about "harmful billionaires."

Public debt emerged as a primary concern for the business leaders present. Mélenchon defended his proposal to cancel French debt held by the European Central Bank, citing U.S. actions. However, Édouard Philippe sharply rebuked this idea, warning it could lead to France being "bankrupt," akin to Greece in 2008. Candidates offered varied solutions: Marine Le Pen proposed drastic cuts to state spending and constitutional debt limits, targeting the EU and immigration for savings. Raphaël Glucksmann advocated for taxing high net worth individuals and boosting industrial production. Mélenchon suggested reducing aid to businesses, while Attal focused on social spending, aiming to bring the deficit below 3% by 2032. Bruno Retailleau, following Marine Tondelier's remarks on social inequality, called for fiscal responsibility.