French bond yields exceed Greece's for first time since debt crisis

French bond yields have surpassed those of Greece for the first time since the Eurozone debt crisis, reaching 3.022% amid concerns over a contentious budget. This situation arises as Prime Minister Michel Barnier's government faces opposition over proposed tax increases and spending cuts. The French government is attempting to finalize a budget that includes €60 billion in tax hikes and cuts. However, Barnier's minority government lacks sufficient votes in the National Assembly, potentially leading to a no-confidence vote if they use a constitutional mechanism to pass the budget. France's budget deficit is projected to exceed 6% of GDP this year, significantly above the EU's 3% target. The government is under pressure from Brussels to reduce its deficit over the next five years, prompting discussions of concessions on various budget items.