France in Crisis: Bond Spreads, Riots, and Political Turmoil
French OAT-Bund spreads have blown out to crisis wides, riots are causing insurance losses comparable to natural catastrophes, a journalist was suspended for criticizing Macron, and a convicted politician became an MEP. Markets are pricing in serious fiscal stress.
What we know
French government bonds are under severe pressure with the OAT-Bund spread back at crisis wides, prompting calls for ECB intervention. Civil unrest has escalated to the point where French insurers are facing losses 'like natural catastrophes'. On the political front, journalist Isabelle Saporta was suspended for one week from LCI after accusing the Macron government of putting France 'on its knees.' A French politician became an MEP despite a 2-year criminal sentence with enforced ineligibility. UK commentator Andrew Neil described France as 'in flames' in a broader critique of European instability. A historical debate on whether France's economic decline traces back to Mitterrand in 1981 is also circulating.
Sources
“Insurers face losses as riots in France become 'like natural catastrophes'”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.