The French Problem.
The numbers are pretty staggering.
French gross national debt stood at €3.35trn (£2.9trn) at the end of the last financial year to March.
That represents almost 114% of its gross domestic product (GDP) on an annual basis. At the same time - to give the best comparison - the UK's also stood at £2.9trn, but that was 96.3% of GDP.
The French debt to GDP figure represents a record high for the nation and has been rising steadily for more than 20 years.
The budget deficit currently stands at 5.8% - that is almost double the 3% allowed by the European Union. [ well known for its accounting practices... ]
French gross national debt stood at €3.35trn (£2.9trn) at the end of the last financial year to March.
That represents almost 114% of its gross domestic product (GDP) on an annual basis. At the same time - to give the best comparison - the UK's also stood at £2.9trn, but that was 96.3% of GDP.
The French debt to GDP figure represents a record high for the nation and has been rising steadily for more than 20 years.
The budget deficit currently stands at 5.8% - that is almost double the 3% allowed by the European Union. [ well known for its accounting practices... ]
