Mélenchon proposes capital taxes, ECB debt cancellation to fix French deficit

French left-wing leader Jean-Luc Mélenchon has proposed a fiscal plan to address France's deficit that relies on taxing capital and the wealthy, explicitly rejecting spending cuts. He also calls for ECB debt cancellation, a radical departure from mainstream fiscal orthodoxy. The proposal signals a potential shift in French political discourse ahead of elections, but its feasibility and market impact remain uncertain.