France's borrowing has a reached a "danger level", Finance Minister Bruno Le Maire said on Monday amid calls for more public spending to help low-income households cope with galloping inflation. Until recently, many Western states could borrow at no cost as investors lent them money freely, but the return of inflation and the war in…
France’s borrowing has a reached a “danger level”, Finance Minister Bruno Le Maire said on Monday amid calls for more public spending to help low-income households cope with galloping inflation. “Not everything is possible, simply because we have reached the danger level for our public finances,” Le Maire said, explaining that changed market conditions meant that France was now paying interest of “more than two percent” on newly issued debt.
Several opposition parties including the far-right National Rally and the right-wing Republicans party are pushing for a cut to fuel taxes as part of a new package of measures intended to ease the cost-of-living crisis in France.