France headed for ‘black hole’ – financial expert

By RT International

The French government’s failure to put a lid on the country’s growing sovereign debt together with protracted political infighting could plunge the nation into a “black hole,” a financial expert has warned.

France has one of the highest debts levels in the European Union, currently standing at about 113% of GDP, a ratio that is expected to climb to 125% by 2030. Its budget deficit is projected at 5.4-5.8% of GDP this year, well above the bloc’s 3% limit.

Appearing on the Tocsin podcast on Monday, financier Charles Gave said that should the Fitch credit rating agency downgrade France’s rating from AA to A, it would prompt institutional investors to sell off its government bonds…

READ FULL ARTICLE HERE… (rt.com)

 

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