France does not need ECB help at present, says Bank of France head

France does not need European Central Bank help right now, Bank of France governor Emmanuel Moulin said on Wednesday. Speaking to France Inter, Moulin described the country’s economic situation as serious but argued that current conditions do not require the ECB to intervene. “The solution is here at home,” he said, adding that France can address its problems by passing a budget aimed at reducing the deficit. France’s borrowing costs have surged amid a global selloff in bonds, contributing to a drop in the euro as investors worry about fragile public finances spreading across Europe. The government presented its 2027 budget bill on October 1, targeting a deficit cut from 5.4% of output this year to 5% in 2027.