France's €107 Billion Deficit Shock: The Next Euro Debt Crisis?

France's €107 Billion Deficit Shock: The Next Euro Debt Crisis? Submitted by Thomas Kolbe Tuesday marked another low point for European fiscal stability. France, a cornerstone of the euro system, confirmed once again that it remains a leading candidate and potential trigger for a future euro financial crisis. According to the French Ministry of Finance, the deficit of the French central government amounted to around €107 billion by the end of June. These are staggering figures – a deficit that is 14.4 percent higher than originally planned by the government. Source Unless the government builds a fiscal firewall and no economic miracle occurs, the central government deficit could rise to around six percent this year....

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