How did France's economic downturn come about? This graph from the last two hundred years provides the answer
In the 19th century, the French franc was one of the most stable currencies in the world. However, high government debt and inflation led to a massive loss of value.
France's economy is in a precarious state, with high government debt and inflation leading to a significant devaluation of the French Franc. The country's 10-year bond yield has risen to 5%, the highest since 2002, and the risk premium over German bonds has doubled since the summer. France's economic woes have surpassed those of Italy and Greece, and the country's political instability is hindering President Emmanuel Macron's ability to implement necessary reforms.
In contrast, France had a period of economic stability in the 19th century, with the Franc being one of the most stable currencies in the world.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
