Parliament to Vote on Emmanuel Moulin's Nomination as Banque de France Head Amid Independence Concerns

President Emmanuel Macron has proposed Emmanuel Moulin, former Secretary General of the Elysée, to lead the Banque de France after the current governor, François Villeroy de Galhau, steps down early to head the Apprentis d'Auteuil foundation. Moulin's nomination has ignited a political debate due to concerns over the central bank's independence, given his close ties to Macron.

A parliamentary vote is scheduled for May 20, 2026, requiring Moulin to secure approval from the Finance Committees of both the National Assembly and the Senate. Opposition parliamentarians, including Eric Coquerel, have openly expressed their intention to reject the nomination, citing fears that Moulin's appointment could compromise the bank's autonomous status.

The constitutional process mandates that three-fifths of present votes in both committees must oppose the nomination to veto the appointment. Should he be confirmed, Moulin's mandate would extend until June 2032.

This nomination and the resulting vote highlight the ongoing tension over institutional independence and political influence within France's financial governance structures. The decision will have significant implications for the future direction of the Banque de France and its role in French economic policy.