This Is Not France’s “Truss” Moment: Mohamed A. El-Erian

Quite a few observers have described the dramatic fall of the Barnier government in France not just as a political crisis but also an economic and financial crisis. While it does signal significant political divisions that will not heal anytime soon and will undermine growth, this is neither a “Truss moment” for France nor will it lead to a repeat of the 2012 European debt crisis.

Prime Minister Michel Barnier will resign after losing the no-confidence vote in the National Assembly triggered by his attempt to force his budget through, marking the shortest tenure in the history of the modern French ...