Emmanuel Macron borrows € 8 million for his campaign

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Emmanuel Macron borrows 8 million euros for his presidential campaign

Former Economy Minister Emmanuel Macron said on Sunday to the daily La Croix that he borrowed 8 million Euros to finance his presidential campaign. For now, he finances his campaign with donations.

“I am finalizing a personal bank loan of 8 million to be realistic to compete with my opponents in the presidential election,” said Mr Macron in an interview to be published Monday and posted Sunday. Asked about the financing of his campaign, Mr Macron not advance total figure on this. “We live only from private donations,” he said.

His entourage had said two weeks ago he had collected about 6.5 million euros in private donations. He cited “more than 20,000 donors” .

2% of donations exceeding € 5,000

“According to the election law, we refused any corporate gift or legal person of private law and accepted donations from individuals between 1 and 7 500 Euros. Just over 30,000 people donated, with a median amount of 50 euros. About 2% of donations exceed 5 000 euros “ , says Macron in La Croix. He said “appalled by the insinuations of some while we strictly adhere to the law” .

“Those who ask us to reveal the donor’s name should be aware that tax secrecy is opposed”, he said.

It was two months ago that Jean-Luc Mélenchon announced it had secured bank loans totaling $ 8 million, enabling him to finance his campaign, more than one million euros received by donations .

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