2025年4月將被銘記為龍場的特別黑闇月份

法國人最喜歡的儲蓄工具顯示自2009年以來的負面餘額空前，提款超過2億歐元。

April 2025 will be remembered as a particularly dark month for the Livret A. This favorite savings tool of the French shows an unprecedented negative balance with 200 million euros more in withdrawals than in deposits. A record deficit that follows the recent drop in its rate and seems to have caused widespread disillusionment among savers.

2025年4月將被記住是Livret A的特別黑闇月份。法國人最喜歡的儲蓄工具顯示出了前所未有的負餘額，戒斷的撤離比存款要多2億歐元。紀錄的赤字是最近的速度下降，並且似乎造成了儲蓄者的普遍幻滅。

A record negative balance of 200 million euros was observed for the Livret A in April 2025, as reported by l’Argus de l’assurance. This is the worst performance since 2009, the year of the financial crisis. For comparison, in April 2015, the Livret A had already ended in the red, but with an outflow of 100 million euros.

正如L'Argus de l'Assurance報導的那樣，2025年4月的Livret A的負餘額為2億歐元。這是自2009年金融危機年以來最糟糕的表現。為了進行比較，2015年4月，Livret A已經以紅色結束，但流出量為1億歐元。

This new record follows a period of strong mobilization by savers at the beginning of the year, particularly in January, when the Livret A rate was reduced from 3% to 2.4%. This reduction, announced at the start of the year, had already led to a net outflow of 1.3 billion euros in the first quarter of 2025.

這一新記錄是在今年年初被儲蓄者強烈動員的時期，尤其是在1月，當時Livret A率從3％降低到2.4％。在今年年初宣布的這種減少已經導致2025年第一季度的淨流出13億歐元。

This fatigue towards traditional investment is also demonstrated by the fact that the Livret A had seen a record inflow of 4.6 billion euros in December 2024, the highest since at least 1999, the year statistics began.

這一事實也證明了對傳統投資的疲勞，即2024年12月的livret A在2024年12月的創紀錄中達到46億歐元，這是自1999年以來最高的，這一年開始了。

After the recent reduction in the Livret A rate, some savers might be turning towards better remunerated alternatives, such as those presented in the ultimate guide to Super Savings Accounts.

在最近降低了Livret A速度之後，一些儲戶可能會轉向更好的報酬替代品，例如《超級儲蓄賬戶最終指南》中提出的替代品。

The LDDS resists, the LEP collapses

LDDS抵抗，LEP倒塌

In this gloomy climate, the Livret de développement durable et solidaire (LDDS) is holding up well, with positive inflows of 310 million euros in April, reports Le Figaro. Despite similarities with the Livret A, the LDDS seems less affected, perhaps due to its image associated with responsible and sustainable investments.

在這種陰沉的氣候中，Livret de Development耐用ET Solidaire（LDDS）的表現良好，4月份的正面流入率為3.1億歐元。儘管與Livret A相似，但LDD的影響似乎較小，這可能是由於其與負責任和可持續投資相關的形象。

Conversely, the Livret d’épargne populaire (LEP), reserved for low-income households, showed a record deficit of 1.96 billion euros. Although April is traditionally a difficult month for this product due to annual closures for non-compliance with conditions, the severity of this outflow raises questions about the growing precariousness of modest households.

相反，為低收入家庭保留的LivretD'épargnePopulaire（LEP）顯示出19.6億歐元的創紀錄赤字。儘管由於不符合條件的年度關閉，因此四月是該產品的艱難月份，但此流出的嚴重性引發了有關謙虛家庭日益嚴重的問題。

For comparison, the outflow in April 2024 was much smaller, at only 270 million euros. This contrast highlights not only a cyclical disinterest but also a structural weakening of popular savings in France.

為了進行比較，2024年4月的流出要小得多，僅為2.7億歐元。這種對比不僅突出了周期性的無趣，而且還強調了法國流行儲蓄的結構性削弱。

Outlook: temporary crisis or lasting trend?

展望：臨時危機還是持久趨勢？

Despite these setbacks, the total amount accumulated by these accounts remains close to historical highs: 444 billion for the Livret A and 162.7 billion for the LDDS. However, the current trend could worsen if rates continue to decrease or if more attractive alternatives emerge sustainably.

儘管有這些挫折，但這些帳戶累積的總金額仍然接近歷史高點：Livret A的4440億和1627億盧比的LDD。但是，如果利率繼續下降或更具吸引力的替代品可持續出現，目前的趨勢可能會惡化。

Faced with these behavior changes, financial actors will need to quickly propose solutions to restore savers’ confidence. The challenge will be to offer competitive yields while ensuring the security and accessibility of these investments. In a context where some are now turning towards alternative assets like bitcoin, perceived by part of the public as a more attractive store of value, April 2025 could be either a mere accident or the beginning of a deep transformation in French savings.

面對這些行為的改變，金融參與者將需要快速提出解決方案，以恢復儲蓄者的信心。挑戰將是提供有競爭力的收益，同時確保這些投資的安全性和可及性。在某些情況下，有些人現在轉向諸如比特幣之類的替代資產，被一部分公眾視為更具吸引力的價值存儲，2025年4月可能僅僅是偶然的事故，或者是法國儲蓄的深入轉變的開始。