On the Road to a French Sovereign Debt Crisis - American Enterprise Institute - AEI
On the Road to a French Sovereign Debt Crisis - American Enterprise Institute - AEI
Source: American Enterprise Institute - AEI
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DW NOTE
France has €3.3 trillion in government debt and a deficit running at 6.1% of GDP — worse than the US, which at least issues the reserve currency. The ECB cannot print France out of trouble without lighting a fire under German savers, and Macron's government has now collapsed twice trying to pass a budget that meets Brussels's 3% target. Italy survived its crisis because the ECB blinked; France may not get the same courtesy.
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