The French economy no longer has any buffers.
Stagnant incomes, energy inflation, high interest rates, and a depleted budget: the French economy is now operating without a safety net. The danger lies less in the severity of each…
Philippe Waechter's blog
France – Eight months under pressure from interest rates
The dreaded moment has arrived where political chaos catches up with the economy. At a time when interest rates are skyrocketing, France is being criticized for a budget it cannot…
France at a crossroads: Austerity chosen or austerity imposed
The 10-year interest rate spread between France and Germany now exceeds 140 basis points, and the French rate is approaching 5%. France is acting alone: it is entering a crisis…
When will we see a strict budget? 2028 at best
The budgetary episode in France is over for 2026, but the battle is not over because long-standing questions have not been answered. 1- Stabilizing the public debt-to-GDP ratio. A few…
France – Public Debt Starts Rising Again
The French National Institute of Statistics and Economic Studies (INSEE) has published the public debt figure for the third quarter of 2025. The public debt-to-GDP ratio stood at 117.4%. The…
Was France naive with regard to China?
President Macron made his fourth trip to China to keep France on the radar of the Middle Kingdom. To get back on the path to sustained growth, France must become…
Is France in crisis ?
Yes, the French economy is in crisis. Not because its activity is collapsing, nor because its inflation rate is too high. The French economy is in crisis because it lacks…