From MoneyWeek · · 1m
Eurozone debt crisis fears rise
Eurozone debt crisis fears rise as France's debt hits 119% of GDP.
In brief
Eurozone debt crisis fears rise as France's debt hits 119% of GDP. France's public debt at 119% of GDP and rising eurozone borrowing costs threaten a debt crisis, but the ECB and member states have tools to manage it. Originally reported by MoneyWeek.
Euro hits 20-month low
The euro fell to a 20-month low against the US dollar, sparking concerns about a new eurozone debt crisis.
France's public debt at 119% of GDP
France's public debt stands at €3.596 trillion, equivalent to 119% of GDP.
Ten-year bond yields near 5%
The yield on ten-year government bonds approached 5% for the first time since 2002.
CAC 40 share index down 6%
The local CAC 40 share index dropped 6% over the past month.
France lacks political consensus
France lacks political consensus to implement fiscal reforms, unlike Italy which has achieved primary budget surpluses.
Debt crisis risks remain
France's fiscal problems are real, but the eurozone has tools to manage a debt crisis without contagion.
The short version
France's public debt at 119% of GDP and rising eurozone borrowing costs threaten a debt crisis, but the ECB and member states have tools to manage it.
