On The Ground newsletter: Get a weekly dispatch from our international correspondents Get a weekly dispatch from our international correspondents Get a weekly international news dispatch Email * SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice
France is a major industrial power with the world’s seventh-largest economy. So why are its government finances in such a mess?
A political deadlock in parliament has left President Emmanuel Macron struggling to reduce an out-of-control deficit. Investors have sold off the country’s bonds. Ratings agencies have downgraded its creditworthiness.
It’s a major comedown for a country that, along with Germany, sets the agenda for much of what's decided in the European Union.
These are some of the reasons why France got into debt trouble and what that might mean for the rest of the world.
Triple whammy of the pandemic, war in U
Continue Reading on The Independent
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.