Fall of yet another premier will make it hard for France to fix its finances. What’s behind its debt problem?
https://www.cnn.com/2025/10/08/business/france-debt-problem-government-crisis-intl?utm_medium=social&utm_campaign=missions&utm_source=reddit
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France lost its fifth prime minister in less than two years this week, just before the 2026 budget was due to be sent to parliament.
Sébastien Lecornu resigned Monday after announcing a cabinet that largely retained the same ministers as under his unpopular predecessor, triggering a backlash. François Bayrou quit last month after trying to push through a savings plan that included scrapping two public holidays and freezing public spending*.*
Lecornu’s resignation raised doubts over whether the 2026 budget – including much-needed debt-cutting reforms – can be passed in time. But after talking to lawmakers from a number of parties, he provided some reassurance Wednesday, acting in a caretaker capacity. “There is a willingness for France to have a budget before December 31,” he said.
France is Europe’s biggest spender relative to its economic output. Its debt burden is behind only those of Greece and Italy, which were at the heart of the European debt crisis in 2011.
With the political climate in France at the moment, the debt looks like a minor concern to me.
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