France's borrowing costs hit 5% for the first time since 2002 as riots rage and a Moody's downgrade looms

Finance Minister Roland Lescure said on Wednesday that the government is prepared to invoke Article 49.3 again to force the 2027 budget through without a vote in parliament. Sébastien Lecornu is pursuing €43 billion in spending cuts but does not command enough votes to secure their passage. French debt stands at around 120% of GDP, double the EU's 60% ceiling. The gap over German borrowing costs has stretched to nearly 160 basis points.

Moody's delivers its verdict on France's credit rating on Friday, with most economists anticipating a downgrade.

Cost-of-living and schools protests have spiralled into the most serious rioting and looting seen in years.

Yields have climbed from roughly 3.2% in late February as Iran war energy prices fuelled inflation.

The TimesFrench borrowing costs at 24-year high as crisis deepens Financial TimesFrance’s borrowing costs hit 5% for first time since 2002 ReutersFrench 10-year bond yields hit 5%, highest since 2002 QuartzFrance's 10-year bond yield topped 5% for the first time since 2002 - Quartz NDTV ProfitFrance Protests: 10-Year Bond Yield Hits 5% For First Time Since 2002 As Paris-Listed Stocks Tumble - NDTV Profit Le Monde.frFrance's 10-year bond yield has surpassed the 5% mark for the first time since 2002 - Le Monde.fr

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