An ECB governing council member and Bank of France governor said France's bond market is complex and under severe stress but not yet at a level that would prompt ECB intervention from Frankfurt; the ECB's remit is to fight inflation and keep it around 2%. French bonds have sold off in recent days and markets are increasingly skeptical a minority government can deliver the spending cuts and tax rises needed to narrow the deficit from 5.4% of GDP in 2026 to 5% next year.