France, Nobel Aghion: “Without a halt on pensions the situation would have exploded”

Milan, Oct. 16 (LaPresse) – The suspension of pension reform in France “was necessary because otherwise the situation would have exploded. Right after Lecornu’s announcement, the spread fell and the stock market rose. I am relieved, I pushed hard to achieve this result and people tell me I had some influence.” This was said by the 2025 Nobel Prize winner in Economics (together with Joel Mokyr and Peter Howitt) Philippe Aghion, in an interview with Corriere della Sera. “I think the economic situation is portrayed too dramatically. The fundamentals are good, France is an attractive country for investments, it has excellent scientists, unicorns (startups valued at least one billion dollars, ed.) in artificial intelligence, we do well in luxury, aerospace, and nuclear sectors. We are a dynamic country. Debt worsened after Covid but we are not Greece, the tax system works well. Now, however, we must get out of political instability,” he noted. Prime Minister Sébastien Lecornu has effectively made an agreement with the Socialist Party, which today will not vote for motions of no confidence, saving the government barring surprises. According to Aghion, “it is a good compromise, and Prime Minister Lecornu could now hold on until the 2027 presidential elections, he has the capability. I hope that the Rassemblement National will not come to power. You in Italy have Giorgia Meloni and it’s not the same thing.”