Loading summary
Interviewer
Indiana University is shaping the future of.
Narrator/Announcer
Healthcare, advancing discoveries that become treatments for Alzheimer's, obesity and cancer, and training the providers trusted to deliver them. See how IU solves What's next iu. Edu Impact Bloomberg Audio Studios Podcasts Radio.
Interviewer
News now, your party has been very clear that you're willing to lead a government on your terms. You've put forward your own budget proposal. But why should Emmanuel Macron pick something from the Socialist Party to be prime minister?
Socialist Party Representative
Needs stability. He needs. He has another two years to run, and I think he cannot afford to be changing his prime ministers every year. It's not good for the economy, it's not good for the country. We need visibility, we need stability. And given the results of the last elections, the left came first. It should have been called to government. It wasn't. And now we have the situation that we're in. That is a government which cannot govern because it doesn't have a majority in the Assembly.
Interviewer
Of course, the left that won the election is an alliance that's no longer in existence. The far left party France on Baude has pulled apart from your party and the Greens in that alliance. So the numbers don't stack up in exactly the same way. But can your party build a. A working minority in Parliament? You know, we've already heard doubts from the centre right, lay Republican or traditional political rivals through modern French political history who've said that they won't participate in a government that's led by the Socialist Party. Could the Socialists do any better when it came to the parliamentary arithmetic?
Socialist Party Representative
I think we have to draw the lessons from Mr. Bairou's methods, which was to just decide on his own, believe that he can go to the country by, you know, being on television. I think he. He gave interviews to every single newspaper and TV channel and felt that, you know, the people might turn against, you know, the members of Parliament. But that's not the case. That was not the case. So I think we have to change drastically. We don't have a tradition of coalitions or compromise or. But I mean, if we need now a budget, which is absolutely essential, and in the Senate, we've been preparing for the past few months to discuss it because, you know, because of the instability in the National Assembly. In fact, the Senate has been doing the job for the past few years now, doing the job of the assembly and ourselves. So, I mean, we cannot continue like that. So I think the Socialists, as anybody would be called by the President, will have to seek compromises. I mean, we looking then it's Mathematics, you know, it's down to mathematics. And we're looking at every vote. Who in the central bloc rejected the government? Who in the right rejected the government? And see that maybe the figures may adopt to have that majority that the, that we absolutely need now.
Interviewer
We spoke to the vice president of MEDEF earlier on the program who said that a socialist government on the current, current budget proposal would be a catastrophe. Is a socialist budget plan going to be bad for the French economy?
Socialist Party Representative
Well, I was at the medef, what we know last week, and the MEDEF has also, it's a tradition in France, always been right wing, believed that only the right wing can lead the country. And then we see where the country, the state of the country today and the economy. And in fact, privately, when I speak to them and remind them of Francois Holland or indeed Francois Mitterrand's terms, they agree that in fact, you know, the economy was balanced. Hollande actually reduced the deficit of France drastically from 5% to about 3% in five years. Then he didn't run again and that was it. But no, the socialists in power have a tradition of keeping the books really well. Now, of course, the big industrial groups and so on are not left wing, none of them, and of course we'll have the kind of rejection, but individually they agree that it could work. Now, the one thing about the socialist program is that there will be a reintroduction of taxes on very high revenues. And of course they're not happy with that because it will just, you know, individually and personally touch them. So, of course, everybody is happy to make savings as long as others make them.
Interviewer
I just want to ask you briefly on your foreign affairs brief as well. I mean, does this political instability harm France's position on the international stage?
Socialist Party Representative
Well, he does weaken, of course, I think, the President's image while he's, as you can see, extremely active, especially in Europe on the war in Ukraine and trying to, you know, keep what France has always done, you know, be good at negotiations and trying to bring peace and defend it. Of course, this is not good for the image. Now I just hope that the budget and every program is actually defending the defence budget, which is the only one on the increase, while all the others, of course, have been asked to make drastic savings, particularly in what Mr. Bairu was presenting with 44 billion savings overall. Spare the defence budget.
Narrator/Announcer
Every business starts with an idea. How can you go from daydreamer to industry leader? Amazon business accelerates your journey with smart business buying. Get everything you need to grow in one familiar place. From office supplies to IT essentials and maintenance tools, Amazon Business takes the buying experience you know and love from Amazon plus tools that help you save costs and make insights based decisions ready to bring your visions to life. Learn how@AmazonBusiness.com.
Podcast: Bloomberg Talks
Host: Bloomberg
Episode Date: September 9, 2025
This episode of Bloomberg Talks features a discussion with a representative of the French Socialist Party (frequently referenced as “Senator Conway-Mouret”), focusing on France’s ongoing political instability, the potential selection of a Socialist prime minister, challenges of parliamentary arithmetic, and the economic and international implications for France. The conversation is particularly timely following fractured election results and ongoing debate over the country's political direction.
Length of Presidential Term and Instability:
The Socialist Party representative stresses that President Emmanuel Macron requires stability to effectively finish his term, cautioning against frequent changes in prime ministerial leadership.
"He has another two years to run, and I think he cannot afford to be changing his prime ministers every year. It's not good for the economy, it's not good for the country."
(00:36 – 00:48)
Parliamentary Deadlock:
The guest highlights the current government's inability to govern due to the lack of an Assembly majority.
"We need visibility, we need stability. And given the results of the last elections, the left came first... now we have... a government which cannot govern because it doesn't have a majority in the Assembly."
(00:51 – 01:12)
Break-up of the Left-Wing Alliance:
The interviewer notes that the victorious left alliance has dissolved, complicating efforts to form a stable government.
"The left that won the election is an alliance that's no longer in existence. The far left party France on Baude has pulled apart..."
(01:13 – 01:23)
French Tradition and Coalition Building:
The Socialist Party representative acknowledges the lack of coalition tradition in France and the necessity for new forms of compromise.
"We don't have a tradition of coalitions or compromise... but I mean, if we need now a budget, which is absolutely essential... we cannot continue like that."
(01:48 – 02:45)
The Mathematics of Majority:
The outlook is pragmatic, focusing on analyzing parliamentary numbers for potential support:
"It's Mathematics, you know, it's down to mathematics... Who in the central bloc rejected the government? Who in the right rejected the government? ...maybe the figures may adopt to have that majority that we absolutely need now."
(02:46 – 03:17)
Private Sector Fears vs. Socialist Fiscal Record:
Addressing business leaders’ critiques, the guest counters with the historical performance of Socialist governments on fiscal discipline.
"The MEDEF has also, it's a tradition in France, always been right wing, believed that only the right wing can lead the country. ...privately, when I speak to them... they agree that... the economy was balanced."
(03:34 – 04:07)
Reference to Former Presidents:
The guest gives examples from Hollande and Mitterrand, emphasizing deficit reduction and responsible governance:
"Hollande actually reduced the deficit of France drastically from 5% to about 3% in five years."
(04:13 – 04:19)
Plans for Progressive Taxation:
An explicit promise is made to reintroduce taxes on the wealthiest, acknowledging predictable resistance from industrial leaders.
"There will be a reintroduction of taxes on very high revenues. And of course they're not happy with that because it will just, you know, individually and personally touch them."
(04:35 – 04:46)
Impact of Political Instability:
The guest admits that ongoing uncertainty weakens France's international image, even as Macron is “extremely active” on the European stage, notably regarding Ukraine.
"It does weaken, of course, I think, the President's image while he's, as you can see, extremely active, especially in Europe on the war in Ukraine..."
(05:15 – 05:27)
Defence Spending Remains a Priority:
Amidst broader budget cuts, the guest points out that defense is the only budget line set to increase, echoing national priorities.
"Now I just hope that the budget and every program is actually defending the defence budget, which is the only one on the increase, while all the others... have been asked to make drastic savings..."
(05:32 – 05:45)
“We need visibility, we need stability.”
— Socialist Party Representative (00:51)
“We have to draw the lessons from Mr. Bairou’s methods... that was not the case.”
— Socialist Party Representative, critiquing recent government approaches (01:48)
“The socialists in power have a tradition of keeping the books really well.”
— Socialist Party Representative (04:10)
“Everybody is happy to make savings as long as others make them.”
— Socialist Party Representative, on resistance to new taxation (04:53)
“Of course, this is not good for the image.”
— Socialist Party Representative, on political instability’s effect internationally (05:27)
Throughout the episode, the Socialist Party representative maintains a pragmatic yet hopeful tone, insisting that stability, fiscal discipline, and coalition-building are achievable—if France adapts and acts decisively. While acknowledging serious challenges in French political culture and parliamentary arithmetic, the guest argues for a responsible, compromise-driven path forward, defending both the Socialist record and their economic approach while conceding the real complexities ahead.