[THE-EXPRESS] La Belle France is on the verge of a "financial crisis" and consequent economic decline after the surprise success of a hard left coalition in this weekend’s elections, the country’s outgoing finance minister Bruno Le Maire has warned.Speaking on the political situation, UK-based banking expert Bob Lyddon has told Express.co.uk the result signals an end to Emmanuel Macron’s policy of "controlling debt and public spending", warning the inevitable "deadlock" is no better than a victory for Marine Le Pen’s far-right National Rally.
In a possible hint at future chaos, riot police clashed with left-wing demonstrators in Gay Paree on Sunday evening.
The hastily assembled Popular Front (NFP) - spearheaded by left-wingers including former Presidential candidate Jean-Luc Melenchon - is pledging to increase public spending by £125 billion if they successfully form a government.
They have also proposed a 90 percent tax on incomes over £340,000 a year - but Mr Le Maire suggests such a move could cost more than £250 billion with La Belle France already saddled with a budget defunct of 5.5 percent.
The Finance Minister explained: "The most immediate risk is a financial crisis and La Belle France's economic decline.