Berliner Boersenzeitung - French lawmakers back Macron choice to run Bank of France

Macron critics say the centrist head of state is seeking to install allies in top positions to shield key government institutions before his five-year term ends next year.

Marine Le Pen's far-right, anti-immigration party is gearing up for what it considers its strongest opportunity yet to take power in the 2027 presidential election.

The finance committees of parliament's two chambers, the National Assembly and the Senate, did not oppose Moulin, parliamentary sources told AFP. Their objection would have blocked his appointment.

Moulin, Macron's choice for the position, had faced questions about his ability to act independently.

Lawmakers in the lower house voted overwhelmingly against him, but enough Senators backed his appointment for it to be approved.

An influential policy maker, Moulin, 57, has held a series of top posts in finance and the presidency.

He served as secretary general of the Elysee Palace for a year and was before that chief of staff to centrist Gabriel Attal during his brief stint as prime minister in 2024.

He served as director general of the French Treasury between 2020 and 2024, overseeing economic policy and public debt.

The Banque de France contributes to defining monetary policy in the eurozone and plays a key role in financial regulation. The institution was founded by Napoleon Bonaparte in 1800 to promote economic recovery after the revolution.

Moulin is to succeed Francois Villeroy de Galhau, who has said he would step down in June, a year and a half ahead of the end of his six-year term. Moulin will remain in the post for the stretch of the next president's mandate.

Speaking in parliament earlier Wednesday, Moulin stressed that he had served France for 30 years and would ensure independence at the central bank.

"The diversity of my career and the variety of roles I have held provide me with valuable experience for the role of Governor of the Banque de France," he said.

"I have never relinquished my convictions, my freedom of thought, or my independence."

Macron has already appointed another loyalist, Richard Ferrand, to head the country's highest constitutional authority.

Former public accounts minister Amelie de Montchalin in February became the country's top auditor, after criticism she could not critique a budget that she was involved in drafting.

(G.Gruner--BBZ)