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French borrowing costs sit near a 24-year high as national debt nears 120% of GDP and fresh protests loom

French borrowing costs sit near a 24-year high as national debt nears 120% of GDP and fresh protests loom

France's 10-year bond yield has topped 4.9 per cent, up more than 130 basis points since June. National debt has reached its highest level since the immediate post-World War II era. Hundreds of thousands of people have taken to the streets to oppose proposed budget cuts, with some demonstrations descending into rioting and looting. France's deeply divided political parties have so far failed to reach agreement on how to plug the fiscal gap.

Greece, the eurozone's former bankrupt, now borrows more cheaply than France, at 4.36 per cent.

Soaring interest bills are swallowing tax revenue that could fund schools and hospitals.

MoreAllianceBernsteinFrance’s Fiscal Stress Isn’t Europe’s Next Debt Crisis - AllianceBernsteinIndexBoxFrance Fiscal Crisis: Bond Yields, Debt at 119% of GDP, and Why the US Is Different - News and Statistics - IndexBoxMorningstarTreasury Yields Fall on String of Weak Housing Data; French Bonds Remain Near Multiyear Highs — 3rd UpdateAl JazeeraFrance’s growing debt woes: How bond markets set countries’ borrowing costsCity A.M.France’s coming bond crisis is a test for Europe’s double standardsFinancial TimesWhat has actually battered the bond market?ReutersFrench bond yields near 24-year high as new protests loom
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