2025年4月将被铭记为龙场的特别黑暗月份

法国人最喜欢的储蓄工具显示自2009年以来的负面余额空前，提款超过2亿欧元。

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月将被记住是Livret A的特别黑暗月份。法国人最喜欢的储蓄工具显示出了前所未有的负余额，戒断的撤离比存款要多2亿欧元。纪录的赤字是最近的速度下降，并且似乎造成了储蓄者的普遍幻灭。

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报道的那样，2025年4月的Livret A的负余额为2亿欧元。这是自2009年金融危机年以来最糟糕的表现。为了进行比较，2015年4月，Livret A已经以红色结束，但流出量为1亿欧元。

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.

这一新记录是在今年年初被储蓄者强烈动员的时期，尤其是在1月，当时Livret A率从3％降低到2.4％。在今年年初宣布的这种减少已经导致2025年第一季度的净流出13亿欧元。

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.

这一事实也证明了对传统投资的疲劳，即2024年12月的livret A在2024年12月的创纪录中达到46亿欧元，这是自1999年以来最高的，这一年开始了。

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速度之后，一些储户可能会转向更好的报酬替代品，例如《超级储蓄账户最终指南》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.

在这种阴沉的气候中，Livret de Development耐用ET Solidaire（LDDS）的表现良好，4月份的正面流入率为3.1亿欧元。尽管与Livret A相似，但LDD的影响似乎较小，这可能是由于其与负责任和可持续投资相关的形象。

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，为低收入家庭保留的LivretD'épargnePopulaire（LEP）显示出19.6亿欧元的创纪录赤字。尽管由于不符合条件的年度关闭，因此四月是该产品的艰难月份，但此流出的严重性引发了有关谦虚家庭日益严重的问题。

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.

为了进行比较，2024年4月的流出要小得多，仅为2.7亿欧元。这种对比不仅突出了周期性的无趣，而且还强调了法国流行储蓄的结构性削弱。

Outlook: temporary crisis or lasting trend?

展望：临时危机还是持久趋势？

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.

尽管有这些挫折，但这些帐户累积的总金额仍然接近历史高点：Livret A的4440亿和1627亿卢比的LDD。但是，如果利率继续下降或更具吸引力的替代品可持续出现，目前的趋势可能会恶化。

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.

面对这些行为的改变，金融参与者将需要快速提出解决方案，以恢复储蓄者的信心。挑战将是提供有竞争力的收益，同时确保这些投资的安全性和可及性。在某些情况下，有些人现在转向诸如比特币之类的替代资产，被一部分公众视为更具吸引力的价值存储，2025年4月可能仅仅是偶然的事故，或者是法国储蓄的深入转变的开始。