People take part in a demonstration part of a nationwide day of actions called by high-school students unions who for days have been demanding better learning conditions in protests punctuated by violent confrontations, in Marseille on October 8, 2026.
Miguel Medina/AFP via Getty Images
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Miguel Medina/AFP via Getty Images
In recent months, there have been serious whispers about an outrageous possibility: that one day soon, France — the seventh largest economy in the world — might not be able to pay back its debts. Right now, protesters in France are complaining about crumbling schools, the lack of teachers, and the overall high cost of living. But the government is struggling to find the money to address all the country’s problems.
France is in a lot of debt. It has been borrowing record amounts of money. So have many other countries including the U.S., the U.K., Italy, Canada. For more than a decade, there has been an international borrowing spree going on. Now, as interest rates climb, that borrowing spree might have to come to an end. And the consequences could get ugly.
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This episode was hosted by Jeff Guo and Erika Beras. It was produced by Sam Yellowhorse Kesler and edited by Marianne McCune. It was fact-checked by Charlotte Isidore and Sierra Juarez. Jimmy Keeley and Travis Hagan engineered the show. Alex Goldmark is the executive producer of Planet Money.
Music: Universal Production Music – “Fou de toi,” “Paysages,” and “Un verre de sun”