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France's political chaos drives borrowing costs to the same level as Greece's for the first time

28 November 2024
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France's political chaos drives borrowing costs to the same level as Greece's for the first time
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France’s political crisis is impacting financial markets as borrowing costs reach the same level as Greece’s, with the spread between French and Greek 10-year government bond yields reduced to zero. Prime Minister Michel Barnier’s government is facing opposition to its budget plan, which aims to cut spending and raise taxes to address France’s budget deficit, leading to threats of a no-confidence vote from both the left-wing New Popular Front alliance and the far-right National Rally. This political turmoil is causing uncertainty and could potentially result in the government’s downfall.

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Tags: borrowingbusiness newschaoscostsDrivesEconomic eventsFranceFrance039sGovernment and politicsGovernment debtGreeceGreece039slevelMichel BarnierPoliticalTime
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