France’s finances and politics are in turmoil. President Emmanuel Macron has just appointed a new prime minister — the fourth person to hold the job in the past 12 months. The deficit is out of control. Borrowing costs are rising. And parliament can’t muster a majority to tackle spending.
It’s a serious comedown for a major industrial power that has the second-largest economy in Europe.
Here’s how France found itself in this state of affairs:
First the pandemic, then an energy crisis
France last balanced its budget
→ Continue reading at The Associated Press
