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France's €107 Billion Deficit Shock: The Next Euro Debt Crisis?
France's €107 Billion Deficit Shock: The Next Euro Debt Crisis?
Submitted by Thomas Kolbe
Tuesday marked another low point for European fiscal stability. France, a cornerstone of the euro system, confirmed once again that it remains a leading candidate and potential trigger for a future euro financial crisis.
According to the French Ministry of Finance, the deficit of the French central government amounted to around €107 billion by the end of June. These are staggering figures – a deficit that is 14.4 percent higher than originally planned by the government.
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Unless the government...
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