PM Francois Bayrou’s government lost a no-confidence vote in parliament amid attempts to rein in the country’s ballooning sovereign debt
The French government’s failure to put a lid on the country’s growing sovereign debt together with protracted political infighting could plunge the nation into a “black hole,” a financial expert has warned.
France has one of the highest debts levels in the European Union, currently standing at about 113% of GDP, a ratio that is expected to climb to 125% by 2030. Its budget deficit is projected at 5.4-5.8% of GDP this year, well above the bloc’s 3% limit.
Appearing on the Tocsin podcast on Monday, financier…
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