City traders bet against French bonds as debt crisis looms
7 months ago

City traders bet against French bonds as debt crisis looms

The Telegraph  

City traders are selling off French bonds amid mounting fears of a debt crisis in Europe’s second-largest economy. Investors are pulling money out of French government debt ahead of a prospective victory for Marine Le Pen’s hard-right National Rally at the upcoming snap election. This culminated in Bruno Le Maire, France’s finance minister, warning that the country could face a “Liz Truss-style scenario” if Ms Le Pen’s low-tax, high-spending party succeeds at the polls. It comes as the French government’s borrowing costs soared late last week, with interest rates on 10-year debt matching that of Portugal for the first time in 20 years.

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