Le Pen proposes deficit rule to cut France’s deficit by 0.5 percentage point of GDP annually

French presidential candidate Marine Le Pen proposed a binding “golden rule” that would require France’s budget deficit to fall by at least 0.5 percentage point of GDP each year. She said the rule would be put to a referendum and reiterated a plan for €125 billion in savings over five years. The proposal comes as the premium on French 10-year bonds over German equivalents has risen above 150 basis points.