Why Is France at Risk of Becoming Europe’s New Sick Man?

France has changed five prime ministers in less than two years — a political record unmatched even during Rome’s turbulent postwar era.

The French parliament is struggling to form a majority capable of passing the budget.

The humiliation suffered by recently departed Prime Minister François Bayrou, warnings over soaring debt, and speculation that the French economy may even need an IMF bailout have all contributed to the crisis.

But most striking of all is the fading authority of President Emmanuel Macron.

This year, the cost of servicing the national debt is estimated at €67 billion — more than the expenditure of all government departments except education and defense. Forecasts suggest that within a decade, this figure will rise to €100 billion annually, surpassing even those sectors.

Credit ratings agency Fitch has downgraded France’s borrowing grade, reflecting growing doubts about the country’s stability and ability to service its debt — a move that risks making government borrowing more expensive.

All this is happening against a backdrop of international turmoil: war in Europe, American retrenchment, and the unstoppable rise of populism.

In France, the group Bloquons Tout (“Block Everything”) has organized a national day of protest, while unions and left-wing parties have staged mass demonstrations against government plans.

Veteran political commentator Nicolas Baverez put it starkly:

“At this critical moment, when the sovereignty and freedom of France and Europe are at stake, France finds itself paralyzed by chaos, impotence, and debt.”

President Macron insists he can steer the country out of this turmoil, yet he has only 18 months left in his second term.

One possible outcome is that France’s internal strengths — its wealth, infrastructure, and institutional resilience — will help it weather what many see as a historic turning point.

But there is another, darker scenario: that France will emerge permanently weakened, prey to extremists on both the right and left, and cement its place as Europe’s new sick man.

Source: BBC News