France's borrowing costs soar to their highest level since 2002 as fresh protests loom over budget cuts

Investors now demand higher returns to lend to France than to Greece, with French ten-year yields crossing 4.9 per cent against Greece's 4.36 per cent. Since June, French yields have climbed more than 130 basis points. Around 550,000 people took to the streets at the weekend, with nearly 2,400 arrested. Prime Minister Sébastien Lecornu's minority government is pursuing €54 billion of savings ahead of a pivotal budget vote.

Public debt stands near 120 per cent of GDP, the highest since World War II.

Two of Lecornu's recent predecessors were forced from office by budget battles.

The last time France recorded a budget surplus was 1974.

City A.M.France’s coming bond crisis is a test for Europe’s double standards ReutersFrench bond yields near 24-year high as new protests loom Al JazeeraFrance’s growing debt woes: How bond markets set countries’ borrowing costs ShareCafeFrance’s deepening crisis puts Europe on CONTAGION alert

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