Can France Still Afford Its Generous Welfare State?
France is on the edge of a financial spiral. The global surge in interest rates has exposed the country, once considered an oasis of stability
France is on the edge of a financial spiral. The global surge in interest rates has exposed the country, once considered an oasis of stability in Europe’s financial markets, as one of the continent’s weakest links. France now pays more to borrow than former crisis hot spots like Greece and Italy. With government debt growing faster than the economy, the pressure on France to rein in its budget deficit has never been higher.
CNBC's Liz Napolitano reports. Chapters 00:00 Introduction 01:04 Chapter 1 - French debt 04:09 Chapter 2 - Protests and political indecision Reporter: Liz Napolitano Produced, Shot and Edited by: Romy Tarantino Animation: Jason Reginato, Emily Park Supervising Producer: Shawn Baldwin Additional Footage: Getty Images » Subscribe to CNBC » Subscribe to CNBC TV About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered.
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