French political turmoil spreads to markets as Paris-listed stocks, bonds and the euro fall - CNBC
French political turmoil spreads to markets as Paris-listed stocks, bonds and the euro fall - CNBC
Source: CNBC
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DW NOTE
The last government that tried to run France like a commercial enterprise was the July Monarchy. It ended in revolution. Paris spreads are widening because bond markets have seen this before: political paralysis, fiscal drift, eventual monetisation. The eurozone has no lender of last resort willing to buy French debt at any price — only a central bank constrained by treaty and a German electorate that remembers Weimar.