Vanguard warns France's credit deteriorates

Vanguard warned France’s credit quality was deteriorating as borrowing costs surged, intensifying concerns over rising public debt ahead of a looming budget battle.

Le Monde

France faces a historic purchasing power crisis: since 2024, families have lost an average of 1,200 euros

Since 2019, real wages have fallen, a rare phenomenon, but social transfers and asset income had long offset this. In 2025 and 2026, that is no longer the case. As a result, purchasing power fell for two straight years, something that has happened only twice since 1960

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Financial Times

Vanguard warns France is ‘degrading credit’ as borrowing costs surge

Iran war has exacerbated fiscal pressures on Paris as budget battle looms

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Project Syndicate

Is Another Eurozone Debt Crisis Looming?

As the cost of servicing sovereign debt rises worldwide, France stands out as an especially fragile case. Its debt-to-GDP ratio is edging toward that of Greece on the eve of its sovereign debt crisis, and the French political system seems unable to do anything about it.