Flash: France's 10-year credit cost briefly rose above 5% on Wednesday, for the first time since 2002.

Flash: France's 10-year credit cost briefly rose above 5% on Wednesday, for the first time since 2002.

The yield touched about 5.002% before falling back to around 4.98%.

The spread on German bonds widened to about 160 basis points, a level last seen during the 2011 Eurozone debt crisis.

Investors are losing faith in France's ability to control its public finances.

The public debt is about 119% of GDP, and the deficit exceeds 5%.

Last weekend's violent protests added to doubts about whether austerity is politically possible.

Moody's is set to review France's credit rating on Friday.

Photo: Le Monde.