France is a major industrial power with the world’s seventh-largest economy. So why are its government finances in such a mess?

A political deadlock in parliament has left President Emmanuel Macron struggling to reduce an out-of-control deficit. Investors have sold off the country’s bonds. Ratings agencies have downgraded its creditworthiness.

It’s a major comedown for a country that, along with Germany, sets the agenda for much of what's decided in the European Union.

These are some of the reasons why France got into debt trouble and what that might mean for the rest of the world.

Triple whammy of the pandemic, war in Ukraine, and rising interest rates

France last balanced its budget in 1973, and maintained a generous welfare state with strong worker protections. That worked for year

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