Le Pen vows to save €140 billion by 2032 if elected to prevent French 'default'

French far-right presidential candidate Marine Le Pen said Tuesday that she would implement €140 billion ($157 billion) in cost savings by 2032 if elected next year, warning that without change France was "heading towards default" on its debt. The current frontrunner in the presidential race made the announcement in a bid to stake out her credibility on the economy and regain momentum after her top ally Jordan Bardella was accused of making antisemitic comments, which he has denied. Le Pen also vowed to bring France's public deficit back to below the EU limit of three percent of GDP by 2030, while urging the European Central Bank to "ease the burden" of interest rates. France's deficit – the annual shortfall of revenue to spending – came in at 5.1 percent of GDP last year, and instead of reducing that level as originally planned the government now forecasts it will hit 5.4 percent this year. It plans to borrow €340 billion ($385 billion) in 2027, around €28 billion more than this year, to help finance government spending and repay debt coming due. Read moreFrench PM presents belt-tightening 2027 budget, including frozen wages and new taxes But those forecasts could be jeopardised b...