‘Chuck it in the fire.’ A leading candidate in France’s presidential race has a simple solution to its massive national debt: just cancel it

France's presidential race has seen candidates focusing on addressing the country's massive national debt, which now stands at 116% of GDP. However, one leading candidate, Jean-Luc Melenchon, has proposed an unconventional solution by suggesting the central bank cancel France's debt holdings. Melenchon argues that this would reduce the government's debt burden, allowing it to allocate more funds to social programs.

Despite his plan being simpler, critics warn that it could lead to exorbitant interest rates and potentially trigger hyperinflation, as it would violate the rules of the Eurosystem.