French Minister of the Armed Forces, Sébastien Lecornu, made headlines on March 6, 2025, during his appearance on France Inter when he proposed encouraging citizens to engage in voluntary investments to support national defense programs. This call to action aligns with the country’s recent discussions on enhancing military readiness amid increasing security threats, particularly concerning the situation with Russia.
Lecornu emphasized the importance of using French savings to back defense initiatives, stating, “Des programmes d'armement, c'est de l'industrie, en plus c'est de l'industrie française, on achète pas à l'étranger !” (Defense programs represent manufacturing, and it's French manufacturing; we don't buy from abroad!), underscoring the necessity of bolstering local industry. The need for such support has intensified as France seeks to reinforce its military capabilities, currently set against the backdrop of shifting geopolitical landscapes.
During the discussion, Lecornu highlighted the potential contributions of dedicated savings products, which may be introduced at the direction of President Emmanuel Macron, who recently noted the feasibility of launching specialized savings products for citizens to partake 'patriotically' in financing defense. He stated, “Je pense qu'il y a des pistes intéressantes de mobilisation de l'épargne des Français, de mobilisation volontaire” (I think there are interesting avenues for mobilizing the savings of the French people, on a voluntary basis). This indicates the government's intent to leverage public sentiment toward national service through financial support.
The proposed approach seeks to address the increasing demands for military funding, which Lecornu believes should rise significantly. The French defense budget stands around 50.5 billion euros annually, but Lecornu articulated the necessity to boost this to approximately 90 billion euros, reflecting on the inadequate state of equipment, stating, “Il faut accélerer de toutes les évidences” (We must accelerate with all evidence). He specified the current shortage of three frigates and around twenty Rafale fighter jets necessary for operational requirements, heralding a push for additional military resources.
Both Lecornu and Economy Minister Eric Lombard discussed mobilizing private investments alongside public funding to meet these military needs. Lombard, prior to Lecornu’s remarks, had acknowledged the necessity for increased budgetary efforts, particularly following the United States' decision to alter its support to Ukraine. He supported Lecornu’s position by emphasizing the collaboration with private banks and insurance companies to facilitate this mobilization.
Addressing citizens directly, Lecornu encouraged “les Françaises et les Français qui veulent placer de l'argent de manière patriotique” (the French who wish to invest money patriotically), advising them to see their contributions as significant to the nation’s security infrastructure. Since Macron stated there would be no tax increases to offset this financing, the idea of patriotic investment offers citizens another incentive and the opportunity to contribute to national defense.
The political climate surrounding these discussions remains charged, with increasing scrutiny on France's military spending as other European nations also aim to hike their defense budgets. Macron’s call to increase defense expenditures to at least 3% of the GDP reflects growing concerns about security positioning within Europe, especially against the backdrop of Russia's military maneuvers. Lecornu reinforced this urgency, commenting, “Il faut faire quelque chose qui soit très efficace sur le terrain militaire” (We must do something very effective on the military ground). This statement highlights the tangible operational focus the French military needs as it deals with contemporary threats to its sovereignty.
Suggestions for this funding mechanism include potential investment products yielding modest returns for citizens, which Lecornu admitted would not be lucrative at all. “C'est patriotique, dont on imaginer que les taux de rémunération seront peut-être modestes” (This is patriotic, so we can assume the interest rates will be perhaps modest), he remarked. The goal is clear: to assure citizens their money is being used to fortify the nation’s defense capabilities, directly counteracting any potential insecurity brought on by foreign aggression.
Going forward, this initiative could mark a turning point for how public finances are utilized to support national defense. By encouraging voluntary contributions through savings, Lecornu aims to cultivate not only economic support but also national solidarity during turbulent times. The approach is positioned not only as financially prudent but morally righteous, evoking accountability and citizenship among the public.
Overall, as France navigates this paradigm shift concerning its defense strategy, the interplay between public sentiment, economic realities, and national security will be more significant than ever. Lecornu’s vision could redefine how the French populace engages with their country’s defense needs, transforming saving habits from mere economic transactions to acts of national service.