Seven of the main candidates in the 2027 French presidential election traded blows over the economy during a two-hour debate hosted by the Medef employers federation in Paris on Thursday.
The Medef, which represents the largest French businesses, hosted the event as part of its annual summer university. It offered the contenders a chance to pitch their economic programmes directly to company bosses.
Marine Le Pen, Jean-Luc Melenchon, Edouard Philippe, Gabriel Attal, Raphael Glucksmann, Marine Tondelier and Bruno Retailleau set out their competing visions at the Roland Garros tennis stadium. The venue in the west of the capital is usually home to the French Open and champions like Rafael Nadal, but on Thursday it was filled with television cameras and politicians.
Before the candidates took their seats in the centre of the Philippe Chatrier court, Melenchon criticised the relationship between Le Pen and parts of the business world. The France Unbowed leader said it was the natural order of things, describing Le Pen's National Rally as a pathetic party and adding that there were pathetic bosses. He also promised to tell the entrepreneurs a few home truths.
Public debt proposals
Melenchon was targeted during the debate over his recent proposal to burn 600 billion euros of French public debt held by the Bank of France. France Unbowed is a prominent force on the French left, and its economic policies frequently alarm business leaders.
Philippe, a former prime minister who is now mayor of Le Havre, said the idea would be amusing if it were not extremely dangerous. He warned that France would end up banned from banking because the country had to keep its word on international financial markets.
Attal, who also served as prime minister under President Emmanuel Macron, asked Melenchon if his plan to cancel debt while still raising taxes was born out of pure sadism.
Melenchon replied that margins for manoeuvre had to be found and urged his rivals not to caricature the debate.
Le Pen told the business leaders she would present a savings plan of 125 billion euros before the upcoming budget debate. The National Rally leader is making another run for the presidency despite recently being convicted on appeal in a separate legal case. Her party has spent months trying to court the corporate world, a strategy previously led by her deputy Jordan Bardella.
However, Glucksmann attacked Le Pen over her economic credibility. The Place Publique candidate said that when she was asked about debt, she simply replied immigrants and Europe. He warned she would eventually realise the country needed labour immigration, or else her promise of zero immigration would sink the French economy.
Pension reform plans
The candidates also set out their positions on Macron's suspended pension reform. The legislation, which raised the retirement age, sparked widespread protests and strikes across France before it was put on pause.
Tondelier, the Green leader, and Melenchon both reaffirmed their commitment to permanently repealing the legislation.
Glucksmann took a different stance from his left-wing rivals, saying a reform of the pension system was necessary. He specified it must be a fair reform because people are not equal when it comes to work.
Retailleau, representing the conservative Republicans, proposed linking the retirement age to life expectancy and said the French people would have to work more.
Attal defended the inclusion of a capitalisation measure in any future pension system.
Macron government record
The two former prime ministers faced sustained criticism over the economic record of the Macron presidencies. Both Attal and Philippe are seen as potential successors to Macron, who cannot run for a third consecutive term in 2027.
Le Pen said Attal and Philippe were the ones who had increased the national debt by 1,000 billion euros.
Tondelier added that in 18 months, France would reach the lowest industrial level in its history.
Glucksmann joked that it was a good thing there were two former prime ministers present, because it was better to be two to defend that record.
Attal, who now leads the Renaissance party, brushed off the attacks. He said he had acknowledged straight away that there were failures as well as successes, but added he would not dwell on the matter because the important thing was to answer the questions from the business leaders.
Stadium downpour
The debate was briefly disrupted after about 30 minutes when heavy rain fell on the closed roof of the stadium, forcing the politicians to raise their voices to be heard.
Philippe joked that he was speaking after an eruption on his left, referring to Melenchon, and that there was a deluge above his head. He added that it was a presidential debate and even though former socialist president Francois Hollande was not there, it was still raining.
Attal used the downpour to criticise his left-wing opponents. He said it would be a good thing if the rain could convince Tondelier, Melenchon and Glucksmann to allow farmers to store water.
As the debate stretched beyond two hours, the stands at the tennis venue gradually emptied.
Melenchon summed up the sometimes heated exchanges by admitting he occasionally found it hard to follow the conversation.
