France's Debt to Raise by $32Bln in Case of Euro Exit – Central Bank Chief

Head of the French Central Bank said that French state debt will raise by 30 billion euros ($32 billion) in case the country leaves the European Union, as has been proposed by presidential candidate Marine Le Pen.

MOSCOW (Sputnik) – French state debt will raise by 30 billion euros ($32 billion) in case the country leaves the European Union, as has been proposed by presidential candidate Marine Le Pen, the head of the French Central Bank, Francois Villeroy de Galhau, said Monday.

"Since we introduced the euro, interest rates have decreased by about 1.5 percent Hypothetically, if we leave the eurozone, financing of the French state debt will increase by more than 30 billion euros a year," Villeroy de Galhau said in an interview with the France Inter Radio, adding that thanks to euro, France has a reliable currency.

He said said leaving euro would lead to inflation and would destroy citizens’ savings.

On Sunday, Marine Le Pen proposed France to abandon euro, calling it a political weapon. A nation should have its own currency in order to be free, she affirmed.

The first round of the French presidential elections is scheduled for April 23, while the run-off is slated for May 7.

According to a survey published on Monday, Le Pen is likely to win in the first round of the election with 26 percent of votes.

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