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This Article is From Jan 05, 2017

Le Pen Aims to Redenominate French Debt in New National Currency

Le Pen Aims to Redenominate French Debt in New National Currency

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(Bloomberg) -- National Front presidential candidate Marine Le Pen said she wants to take France out of the euro and redenominate French government debt in a new national currency.

“More and more European citizens realize their economies have been suffocated by the euro,” she told reporters on the sidelines of a press conference in Paris.

Before leaving the euro, Le Pen said she would hold a referendum on France's relations with the European Union and has pledged to hold such a vote within six months of an election victory.

“A national currency could be linked to a common currency,” she added, without giving further details on the connection. She said she could see the EU setting up another currency like the ECU, or European Currency Unit, which the bloc used for internal accounting purposes before the euro was introduced in 1999.

To contact the reporters on this story: Helene Fouquet in Paris at hfouquet1@bloomberg.net, Gregory Viscusi in Paris at gviscusi@bloomberg.net. To contact the editors responsible for this story: Alan Crawford at acrawford6@bloomberg.net, Ben Sills, Richard Bravo

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