French public debt reaches record high: Is France the sick man of Europe?

France’s debt has reached a record €3.228 trillion, amounting to 112 percent of GDP. That is well above the cap set by EU rules. Of course, France isn’t the only member state to have racked up debt during the Covid pandemic and the energy crisis. Several countries have been reprimanded by the European Commission for breaking budget rules. But because the French economy is one of Europe’s largest, France’s EU partners are watching the situation nervously. So how and where should the country make savings? In this debate with two MEPs, we draw on the experiences of other countries, including the “frugal” Netherlands.



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