ECB’s Villeroy: Political Uncertainty in France to Hit Growth By 0.2%

10 October 2025

By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Friday that political uncertainty in France is expected to reduce economic growth by around 0.2% of GDP.

In an interview with Luxembourg broadcaster RTL, Villeroy, who heads the Banque de France, said that the central bank estimated “national political uncertainty costs us at least 0.2% of growth.”

He acknowledged that “morale is not very good” in France at the moment, as citizens are “fed up” with the political climate, but stressed that the broader economy was “holding up.”

Asked what he would do if he were in government, Villeroy responded promptly that this was not his role, emphasizing instead that his mission is at the Banque de France.

He also declined to comment on whether he had been approached to join the current government, adding only: “I have told you where my mission lies.”