Deutsche Bank CEO warns France's debt crisis threatens financial stability

Germany's top banker, Deutsche Bank CEO Christian Sewing, has raised alarm over France's debt crisis, citing nationwide riots and surging borrowing costs as "concerning" for financial stability. French 10-year bond yields climbed above 5 percent for the first time since 2002, with the gap between French and German borrowing costs widening to a 15-year high. Sewing called for a "disciplined budget" to control the deficit, noting the bond market "is not lying." The unrest, sparked by school underfunding and cost-of-living protests, led to over 2,300 arrests and damaged Carrefour stores, causing the supermarket's shares to drop 14 percent. Political uncertainty ahead of May elections and populist spending pledges have pressured the euro, which fell over 1 percent against the pound.