France’s borrowing costs converge with Spain as budget concerns grow

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Financial Times 5d ago

France’s borrowing costs converge with Spain as budget concerns grow - Financial Times

Quick Summary:

The European Commission has put France in what it calls its excessive deficit procedure, which places extra scrutiny on the spending plans of Barnier and his new government.

France’s borrowing costs have converged with Spain’s as investors worry about Paris’s ability to close its yawning budget deficit.

Investors are becoming increasingly sceptical that France will implement the budget cuts demanded by the EU, particularly as the rise of populist parties in France and Germany potentially weakens the bloc’s political power to make countries comply with its debt rules.