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The News Agents

Could Marine Le Pen topple the Eurozone?

The News Agents

Global

Daily News, News, Government, Politics

4.24.3K Ratings

🗓️ 26 November 2024

⏱️ 40 minutes

🧾️ Download transcript

Summary

Later in the show we’ll be speaking to Department for Work and Pensions Secretary Liz Kendall straight from the Commons, after she delivers her plans to cut the welfare bill. But we start with the economic story you might be missing, and one that could dwarf everything else.

It begins in France where Marine Le Pen is currently threatening to bring down the Michel Barnier government by voting against his budget with the help of the far left parties. She says the budget is out of touch with the needs of ordinary working people and their electricity bills, but her moves and the ripples of uncertainty they create could trigger a Eurozone crisis of the likes seen last when Greece collapsed after the banking crisis. Is that where we are heading?

And, lots of people from all over the world have signed a lovely petition calling for a UK general election. What’s the...erm...point?

Editor: Tom Hughes

Executive Producer: Louis Degenhardt

Producer: Natalie Indge 

Digital Editor: Michaela Walters

Social Media Editor: Georgia Foxwell

Video Production: Rory Symon, Shane Fennelly & Arvind Badewal

Digital Journalists: Michael Baggs & Jacob Paul

You can watch Lewis's special report on the abortion crisis in Florida here: https://www.youtube.com/watch?v=df5BCL0ocFE

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Transcript

Click on a timestamp to play from that location

0:00.0

The Newsagents podcast is brought to you by HSBC UK, opening up a world of opportunity.

0:08.2

This is a global player original podcast.

0:11.8

France Inter, Fault it fair to be the government Barnier,

0:15.6

yes, respond majoritermont the electors of the Rassemblement National.

0:18.8

We'll go to them.

0:20.2

That is Pont-Aire with the news of the moment in France, which is that Marine Le Pen of the hard right is threatening to bring down the entire French government.

0:30.6

And it is over France's unsustainable budget. If this happens, it could trigger financial uncertainty in the rest of Europe on an

0:41.3

epic scale. Welcome to the newsagents.

0:48.3

It's John. It's Emily. It's Lewis. And later on in the show, we'll be talking to the

0:53.3

pension secretary,

0:54.7

Liz Kendall, about the latest effort by a government to get more people off welfare and into work.

1:01.7

How is she going to do it? First, we are going to discuss what is happening in France. And there has been

1:06.8

quite a lot of flashing red lights on various bits of the world economy over the last

1:12.8

couple of weeks. We heard the Chancellor yesterday talking about her tax rises, of course. News broke

1:17.7

overnight, which we'll talk about a little bit, about Trump threatening to impose, saying

1:22.3

he will impose hefty tariffs across North America in Canada and Mexico. But there is a story which hasn't had as much

1:29.2

attention, which actually could dwarf all of them, could be bigger than all of them, and could kind of

1:33.7

be the ignition or the touch paper, which actually sets all of them off a chain reaction, economic

1:40.0

chain reaction. And that is what is going on in France. Before the end of the month there is going

1:44.7

to be a vote on the country's budget. France has a budget deficit, i.e. it spends more than it takes

1:51.0

it in taxes of 6%. That is really big. It's really big. It is twice what the EU rules allow.

1:58.4

And the new government, which has hastily been assembled, led by

...

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