PARIS (Reuters) – Eric Lombard, currently at French state bank Caisse des Depots (CDC), has been appointed finance minister in the new French government formed under Francois Bayrou, President Emmanuel Macron’s chief of staff said on Monday.
The new finance minister’s leadership will face close scrutiny from markets as France, reeling from months of political turmoil, faces mounting pressure to cut its swollen deficit.
Credit rating agency Moody’s downgraded France earlier this month, following Bayrou’s appointment as prime minister – the country’s fourth PM this year.
(Reporting by Layli Foroudi, Mathieu Rosemain and Sophie Louet; Editing by Sudip Kar-Gupta)
