French and European economies shouldn’t be in ‘crash mode’

PARIS, December 20 (Reuters) – The French economy and the wider European economy should not experience any “crash” of “hard landing”, Francois Villeroy De Galhau, European Central Bank member and Bank of France chief, told BFM TV Tuesday.

He said, “France should not be in recession.”

Bank of France said Saturday that while the French economy is expected to slow next year, it will recover some of its lost ground in 2024. In an update of its long term economic outlook, the Bank of France stated that the second-largest economy in the euro zone is expected to see a slowdown of 2.6% growth this year and 0.3% in 2023. (Reporting and editing by Sudip Kargupta. Edited by Ed Osmond.