AXA CEO warns French election campaign could damage national credibility

Thomas Buberl, the managing director of AXA, warned that the French presidential campaign should not erode the nation’s credibility, especially given one outlet fiscal pressures. He pointed to persistent public-sector deficits and France’s difficulty in adhering to EU fiscal rules. Buberl emphasized that the 2026 deficit level and the preparation of the 2027 budget will be scrutinized by financial markets.

He called on all candidates to adopt a responsible approach, building a shared, long-term economic strategy instead of focusing solely on spending cuts. The insurer’s leader stressed that voter mobilisation cannot rely only on austerity promises and that a credible fiscal outlook is essential to prevent a sovereign debt crisis before the election.