A worker crosses an excavation site in front of a preserved 19th-century building facade at the Canopia urban redevelopment site near the Saint-Jean railway station in Bordeaux, south-western France, on April 23, 2026. The city's redevelopment push comes as the European Central Bank warned that the Iran conflict risks pushing energy-dependent European economies into stagflation, with French construction firms reporting fuel and materials cost hikes across active sites. (Photo by Philippe LOPEZ / AFP via Getty Images)

This photograph shows construction cranes and workers at the Canopia urban redevelopment site near the Saint-Jean railway station in Bordeaux, south-western France, on April 23, 2026. The city's redevelopment push comes as the European Central Bank warned that the Iran conflict risks pushing energy-dependent European economies into stagflation, with French construction firms reporting fuel and materials cost hikes across active sites. (Photo by Philippe LOPEZ / AFP via Getty Images)

Cyclists ride past the Canopia urban redevelopment site near the Saint-Jean railway station in Bordeaux, south-western France, on April 23, 2026. The city's redevelopment push comes as the European Central Bank warned that the Iran conflict risks pushing energy-dependent European economies into stagflation, with French construction firms reporting fuel and materials cost hikes across active sites. (Photo by Philippe LOPEZ / AFP via Getty Images)

This photograph shows construction cranes and workers at the Canopia urban redevelopment site near the Saint-Jean railway station in Bordeaux, south-western France, on April 23, 2026. The city's redevelopment push comes as the European Central Bank warned that the Iran conflict risks pushing energy-dependent European economies into stagflation, with French construction firms reporting fuel and materials cost hikes across active sites. (Photo by Philippe LOPEZ / AFP via Getty Images)

Steel supports hold a preserved 19th-century facade in place as construction advances at the Canopia urban redevelopment site near the Saint-Jean railway station in Bordeaux, south-western France,2026. The city's redevelopment push comes as the European Central Bank warned that the Iran conflict risks pushing energy-dependent European economies into stagflation, with French construction firms reporting fuel and materials cost hikes across active sites. (Photo by Philippe LOPEZ / AFP via Getty Images)

A pedestrian walks past the Canopia construction site near the Saint-Jean railway station in Bordeaux, south-western France, on April 23, 2026. The city's redevelopment push comes as the European Central Bank warned that the Iran conflict risks pushing energy-dependent European economies into stagflation, with French construction firms reporting fuel and materials cost hikes across active sites. (Photo by Philippe LOPEZ / AFP via Getty Images)

A preserved 19th-century stone building facade stands above groundwork at the Canopia urban redevelopment site near the Saint-Jean railway station in Bordeaux, south-western France, on April 23, 2026. The city's redevelopment push comes as the European Central Bank warned that the Iran conflict risks pushing energy-dependent European economies into stagflation, with French construction firms reporting fuel and materials cost hikes across active sites. (Photo by Philippe LOPEZ / AFP via Getty Images)

Britain's Home Secretary Shabana Mahmood (C3R) and France's Interior Minister Laurent Nunez (C) inspect a smuggler's inflatible boat during a presentation of the operational resources used to counter illegal immigration, on the shores of Zuydcoote, near Dunkirk, on April 23, 2026. Britain and France have agreed a new three-year deal to stop undocumented migrants making the risky journey across the Channel in small boats, the two sides announced. Under the deal, France pledged to increase law enforcement on the coast by more than half to fight irregular migration to Britain -- reaching 1,400 officers by 2029. The Sandhurst treaty sets out the UK's financial contribution to French efforts to stop migrants attempting the perilous sea crossing to Britain. (Photo by Stefan Rousseau / POOL / AFP via Getty Images)