On Friday, February 7, Roland Gillet, Guillaume Poitrinal, founder of WO2, and Philippe Manière, president of Vae Solis Communications, engaged in a discussion regarding the content of the French government's 2025 budget, which was ultimately adopted following the Senate's vote.

Roland Gillet sounded the alarm over the pervasive populism in several European states, including France, Belgium, and Austria, where political leaders systematically postpone the necessary efforts for sound budgetary management.

"When one considers oneself a very capable ship captain while struggling to navigate calm waters, the risk is high that exaggerated measures will be taken in a storm. It is better to address problems proactively rather than reactively."

He emphasized that the European economy continues to be propped up by central banks, which, through low interest rates, enable states to evade the actual costs of their debt. In part, it is bondholders who bear the brunt of this cost, as their savings are inadequately compensated. However, this mechanism also means that states are not compelled to face the discipline of interest rates when they further increase their debt.

Watch the episode of "Les Experts": Budget, The Toughest Ahead for 2026