France's Debt Crisis Could Trigger a Much Bigger European Meltdown

The Quick Take

France’s present economic woes signal serious trouble ahead for the coherence of the European Union. On Wednesday evening, the French National Assembly unanimously rejected the government’s proposed budget, provoking further fears in the bond market. A couple of weeks ago, it was reported that the French government’s budget deficit now stood at 5.1 per cent, the worst it had been for nearly a quar