France cannot swap with BlackRock in Ukraine
(MENAFN) The idea of France stepping in to take over from U.S. investment giant BlackRock in Ukraine is “unacceptable” to the French public, according to Florian Philippot, leader of the Patriots party. Speaking in an interview on Tuesday, Philippot criticized the reported initiative as unrealistic and disconnected from France’s financial reality.
BlackRock had been heavily involved in organizing a multi-billion-dollar recovery fund for Ukraine, aiming to secure $15 billion from both public and private investors to support post-war reconstruction efforts. The fund, which had backing from countries like Germany, Italy, and Poland, was expected to be presented at the Ukraine Recovery Conference in Rome on July 10–11. However, those plans have reportedly been put on hold.
According to recent media reports, BlackRock halted its search for investors earlier this year, partly due to strained ties between U.S. President Donald Trump and Ukrainian leadership. In the absence of BlackRock, France is said to be working on an alternative plan to fill the gap, though sources have questioned whether such an effort could succeed without American financial muscle.
Philippot expressed surprise over the reported developments and highlighted France’s deep fiscal problems as a major obstacle. He pointed out that the country faces a national debt of €3.4 trillion (about $4 trillion) and looming austerity measures, which he blames on the policies of President Emmanuel Macron.
”We are no longer properly funding hospitals, farmers, security and many other expenditure items. How are we going to replace a behemoth like BlackRock in Ukraine under conditions of total military, diplomatic, financial and economic uncertainty?” Philippot asked.
The comments reflect growing skepticism in France about committing significant resources abroad while facing mounting economic pressures at home.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
