Allianz Chief Investment Officer and Chief Economist Ludovic Subran says French Prime Minister Sebastien Lecornu's resignation on Monday is "absolutely not" a Liz Truss moment for the European country. "I think the concern is what kind of budget France is going to get," he tells Bloomberg Television. Liz Truss resigned as UK Prime Minister in 2022 after less than 50 days in office, when her proposed budget panicked markets. Subran also talks about what factors could potentially turn the French political crisis into an economic one.

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