France faces a financial reckoning as soaring debt fuels political turmoil Paris is emerging as one of the weakest links in the global debt selloff, with borrowing costs reaching a 24-year high just as hundreds of thousands are taking to the streets amid rising living standards, declining purchasing power and deteriorating public services. The Wall Street Journal warns that Frances' mounting debts and political paralysis are making it increasingly difficult to contain her financial problems. French 10-year bond yields briefly exceeded 5% for the first time since 2002, making it increasingly expensive for the government to borrow. Public debt is expected to exceed 111% of GDP this year, while the budget deficit stands at about 5%. Government revenues already amount to 52% of GDP, leaving little room for tax increases, while the public opposition makes it difficult to cut political spending. On October 24, some 410,000 people marched across France, according to the interior ministry, demanding relief from rising prices and better public services. Unions put the turnout at nearly 800,000 Protest groups are calling for more demonstrations on October 31 and a nationwide strike on November 5, increasing pressure on President Emmanuel Macron. substack | talk.

France faces a financial reckoning as soaring debt fuels political turmoil Paris is emerging as one of the weakest links in the global debt selloff, with borrowing costs reaching a 24-year high just as hundreds of thousands are taking to the streets amid rising living standards, declining purchasing power and deteriorating public services. The Wall Street Journal warns that Frances' mounting debts and political paralysis are making it increasingly difficult to contain her financial problems. French 10-year bond yields briefly exceeded 5% for the first time since 2002, making it increasingly expensive for the government to borrow. Public debt is expected to exceed 111% of GDP this year, while the budget deficit stands at about 5%. Government revenues already amount to 52% of GDP, leaving little room for tax increases, while the public opposition makes it difficult to cut political spending. On October 24, some 410,000 people marched across France, according to the interior ministry, demanding relief from rising prices and better public services. Unions put the turnout at nearly 800,000 Protest groups are calling for more demonstrations on October 31 and a nationwide strike on November 5, increasing pressure on President Emmanuel Macron. substack | talk.