Le Pen targets €140 billion spending cuts

PARIS Far-right leader Marine Le Pen has significantly raised her proposed spending cuts in a bid to reassure jittery financial markets ahead of next year's high-stakes presidential race. Addressing journalists, Le Pen announced plans to slash net spending by 140 billion euros by 2032. This figure marks a sharp increase from her previous target of 125 billion euros. The aggressive fiscal adjustment aims to bring France's budget deficit down to the European Union limit of 3% of economic output by 2030, easing massive pressure on national borrowing costs. France has recently experienced a surge in bond yields to levels not seen since the early 2000s. Amid mounting political uncertainty and strained public finances, financial markets have reacted nervously to the country's economic trajectory. Current government leaders have introduced their own savings measures, but divided parliamentary opposition continues to complicate the path forward. Le Pen stated that the majority of her proposed savings would be implemented within the first three years of a potential presidency by streamlining government operations. Furthermore, she proposed enshrining strict fiscal discipline into the constitution via a referendum. This "golden rule" would legally mandate annual deficit reductions until national debt significantly decreases. While these new fiscal measures caused a brief dip in bond yields during her speech, winning over cautious business leaders remains a major hurdle. Critics remain wary of her past eurosceptic stances and proposed changes to retirement policies. As the upcoming spring election approaches, proving economic credibility will be a defining challenge for all candidates vying for leadership.