

What Happens After France’s Government "Collapse"
11 snips Sep 12, 2025
Sophie Pedder, Paris Bureau Chief at The Economist, unpacks the recent political turmoil in France, following the prime minister's resignation. She discusses the implications of the government's collapse on President Emmanuel Macron, particularly amidst rising national debt. Pedder also highlights the mounting public protests and how recent unrest parallels historical movements like the Yellow Vests. The complexities of France’s climate policies and growing far-right sentiments are examined, revealing deep cultural and political tensions that threaten stability.
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Prolonged Crisis Spending Raised Debt
- Macron's governments kept pandemic and energy support too long, which sustained high public debt.
- Slow withdrawal of aid after COVID and the Ukraine shock left France with persistently high deficits.
Eurozone Rules Amplify Fiscal Strain
- France faces eurozone rules and market pressure because its deficit exceeds EU targets.
- Rising bond yields reflect investor concern and push France toward fiscal tightening.
Explain Austerity Measures Clearly
- Communicate clearly when proposing austerity and explain specific trade-offs to the public.
- Expect backlash to visible cuts like removing public holidays without strong public buy-in.