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Investing.com -- Francois Villeroy de Galhau, a member of the European Central Bank (ECB) and head of the Bank of France, has highlighted the need for a balanced approach to defense spending in France.
Speaking on Thursday, Villeroy noted that while an increase in defense spending is necessary, it cannot be unlimited due to France’s significant public deficit and debt.
Villeroy’s comments come in the context of France’s public spending policy during the COVID-19 pandemic, which was aimed at supporting the economy and preventing company bankruptcies.
He emphasized that this approach cannot be replicated for defense spending. "We cannot have a policy of spending whatever it takes regarding defense spending," Villeroy said during his interview with BFM TV.
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