Quote from: https://www.france24.com/en/live-news/20250905-the-massive-debt-behind-france-s-political-turmoil
Bayrou called the vote to settle a fight over the budget as he seeks 44 billion euros ($51 billion) in savings to cut the debt.
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France's public debt has steadily risen for decades, fuelled by chronic budget deficits financed through borrowing on bond markets.
The debt grew to 3.3 trillion euros ($3.9 trillion) in the first three months of this year, or over 48,000 euros per French national.
The debt amounts to 114 percent of France's annual gross domestic product (GDP, a measure of economic output) -- the third highest debt ratio in the eurozone after Greece and Italy.
The debt ratio is almost double the limit of 60 percent allowed by the European Union.
...
France's public debt has steadily risen for decades, fuelled by chronic budget deficits financed through borrowing on bond markets.
The debt grew to 3.3 trillion euros ($3.9 trillion) in the first three months of this year, or over 48,000 euros per French national.
The debt amounts to 114 percent of France's annual gross domestic product (GDP, a measure of economic output) -- the third highest debt ratio in the eurozone after Greece and Italy.
The debt ratio is almost double the limit of 60 percent allowed by the European Union.
And total surprised, French didn't want cuts to their social benefits.
Quote
Prime Minister François Bayrou submitted his resignation Tuesday after losing a crushing confidence vote in parliament. The third toppling of a head of government in 14 months leaves President Emmanuel Macron scrambling for a successor and a nation caught in a cycle of collapse.
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He gambled on a budget demanding over €40 billion in savings. The plan froze welfare, cut civil-service jobs, and even scrapped two public holidays that many French see as part of their national rhythm.
Bayrou warned that without action the national debt, which is now 114% of GDP, would bring “domination by creditors” as surely as by foreign powers.
Instead, he united his enemies. The far right of Marine Le Pen and a left-wing alliance voted him down, 364 to 194.
..
With just 18 months left in his term-limited presidency and his approval rating at 15%, the risk for Macron is existential. Even fresh calls for his resignation can be heard, though Macron has ruled it out.
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Wednesday has been declared a day of action under the slogan “Block Everything.” Protesters plan to shut fuel depots, highways, and city centers. The government is deploying 80,000 police.
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Analysts warn that if Macron once again ignores popular discontent, unrest could spiral.
But this time the anger runs perhaps deeper. It is not just about one reform. It is about austerity, inequality and the sense that governments keep collapsing while nothing changes.
...
France’s deficit stands at nearly 6% of GDP, which is about €198 billion. EU rules demand it be cut below 3%.
...
He gambled on a budget demanding over €40 billion in savings. The plan froze welfare, cut civil-service jobs, and even scrapped two public holidays that many French see as part of their national rhythm.
Bayrou warned that without action the national debt, which is now 114% of GDP, would bring “domination by creditors” as surely as by foreign powers.
Instead, he united his enemies. The far right of Marine Le Pen and a left-wing alliance voted him down, 364 to 194.
..
With just 18 months left in his term-limited presidency and his approval rating at 15%, the risk for Macron is existential. Even fresh calls for his resignation can be heard, though Macron has ruled it out.
...
Wednesday has been declared a day of action under the slogan “Block Everything.” Protesters plan to shut fuel depots, highways, and city centers. The government is deploying 80,000 police.
...
Analysts warn that if Macron once again ignores popular discontent, unrest could spiral.
But this time the anger runs perhaps deeper. It is not just about one reform. It is about austerity, inequality and the sense that governments keep collapsing while nothing changes.
...
France’s deficit stands at nearly 6% of GDP, which is about €198 billion. EU rules demand it be cut below 3%.
Fourth prime minster in two years, Macron's approval is just 15% France is pushed to be owned by creditors and bankers. Deficit at nearly 6% of GDP, where else could France possibly find billions in savings without cutting pensions and holidays. I don't think i could've found a better way to bring ultra rights everywhere and destroy the EU if i tried.
