Emmanuel Moulin appointed governor of the Bank of France after a close vote

Emmanuel Moulin has been appointed Governor of the Bank of France. The finance committees of the National Assembly and the Senate failed to reach the three-fifths majority required to block his nomination, which was proposed by Emmanuel Macron. This procedure, stipulated by the 2010 organic law, required at least 73 out of 121 members of parliament to oppose the presidential choice. This threshold was not met despite the stated opposition of several parliamentary groups, including La France Insoumise, the National Rally, and the Socialists. The former Secretary General of the Élysée Palace thus takes the helm of the institution for a renewable six-year term.

A fragmented opposition without a majority

Appearing before parliamentarians on Wednesday, Emmanuel Moulin emphasized his independence and presented himself as a free man. This message was intended to reassure them in the face of criticism regarding his close ties to the head of state. Eric Coquerel, chairman of the Finance Committee in the National Assembly, had urged members of parliament not to be pressured, denouncing the choice as overly political. The Socialists had joined the left-wing and far-right opposition in contesting the nomination. However, the fragmentation of the vote and the lack of a united front allowed the presidential candidate to secure the appointment.

A strategic position under surveillance

The appointment comes amid heightened political tensions. The Governor of the Bank of France plays a key role in supervising the banking system and participates in the decisions of the European Central Bank. Emmanuel Moulin succeeds François Villeroy de Galhau and will have to demonstrate his ability to perform this function impartially. His appointment marks a new chapter for the French financial institution, under the scrutiny of Parliament and the markets.