French bonds having their worst decade since Napoleon is the kind of stat that makes you pause.
Not just a bad year. Not just a rough cycle. The worst *decade* in 220 years.
When sovereign debt from a G7 economy starts trading like this, it's worth asking what's broken. Fiscal discipline? Political stability? Market confidence in the European project itself?
History doesn't repeat, but it sure rhymes. And right now, French OATs are rhyming with some very uncomfortable chapters.
Not just a bad year. Not just a rough cycle. The worst *decade* in 220 years.
When sovereign debt from a G7 economy starts trading like this, it's worth asking what's broken. Fiscal discipline? Political stability? Market confidence in the European project itself?
History doesn't repeat, but it sure rhymes. And right now, French OATs are rhyming with some very uncomfortable chapters.