'A debt can be erased, but the decisions that created it always have to be paid for in one way or another'
- Posted on September 21, 2026
- By Le Monde
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- 1 min read
In brief
French presidential race intensifies as left-wing politician Jean-Luc Mélenchon champions public debt cancellation, reigniting debate on fiscal responsibility. Critics argue the proposal lacks legal foundation and sidesteps France's structural budget deficit challenges. Economists warn that while debt elimination sounds appealing, the underlying spending decisions that generated these obligations demand continued accountability and financial restructuring regardless of debt forgiveness mechanisms.
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'A debt can be erased, but the decisions that created it always have to be paid for in one way or another'
COLUMN. Hard-left candidate Jean-Luc Mélenchon has successfully brought the public debt issue into the presidential election campaign by proposing to cancel part of it. The proposal is legally fragile and does not address France's persistent budget deficit, writes Le Monde columnist Stéphane Lauer.
