France's Debt Crisis Begins as Student Protests Clash with Budget Cuts

On October 1, French high school students protested for more education funding while the government presented a 2027 budget requiring €43 billion in savings, highlighting a national paradox. The budget includes €25 billion in spending cuts amid rising debt costs. France's ten-year borrowing rate hit 4.96%, a record since 2002, with public debt interest reaching €79.2 billion and projected to exceed €100 billion by 2028. Student unions reject austerity, while the education budget would actually rise by €1.2 billion despite 1,588 job cuts. Economists argue French groups resist sacrifices, citing Tocqueville's observation that citizens expect the state to solve problems. With debt at 121.7% of GDP by 2027 projections, analysts suggest the feared debt crisis may have already begun.