The French have accumulated "85 billion euros" in savings

INTERVIEW

Since confinement, the French have been cautious with their money.

According to Michel Mathieu, managing director of LCL (Crédit Lyonnais), households have even accumulated a record sum of "85 billion euros" in savings.

"The French have not been able to consume during the entire period of confinement and therefore they have indeed accumulated 85 billion. At the time of writing, it will probably even be a little more at the end of the year", assured the bank boss, Monday noon on Europe 1. 

>> LIVE -

 Coronavirus: follow the evolution of the situation on Monday, September 14

The French have mostly turned to safe investments, such as the Livret A. "Demand deposit accounts have filled up considerably, since the French prefer to remain rather liquid in their investments. So, it is more towards these investments that their savings are oriented, "detailed Michel Mathieu. 

"Good news"

The boss of LCL considered that this accumulation of savings is "good news" for the economy.

"This means that there is a savings potential that can be invested in whole or in part in our economy," said Michel Mathieu.

"Consumption seems to be picking up again and the Banque de France has revised its GDP forecasts up by 2 points. This is good news," he also said. 

CORONAVIRUS ESSENTIALS

> Covid-19: why the increase in the number of cases is greater than that of hospitalizations

> INVESTIGATION - Coronavirus: towards a new shortage of masks and gloves?

> Faced with the rebound of the Covid-19 epidemic, screening centers are overwhelmed

> Covid-19: what is a contact case and what to do when it is?

> Coronavirus: the 5 mistakes not to make with your mask

By the end of the year, the total savings accumulated by the French could even cross the symbolic bar of 100 billion euros, unprecedented.