France's borrowing costs at 2002 levels amid debt, student protests
Business
France is seeing its borrowing costs shoot up to levels not seen since 2002, as investors get anxious about the country's growing debt, now nearly 120% of its GDP.
On top of that, student protests over teacher shortages and deteriorating school buildings are happening while the government is already facing a large budget deficit and heavy debt.
France's interest bill may top €90bn
France might have to pay over €90 billion in interest next year, more than what it plans to spend on either defense or education next year.
With energy prices climbing and the European Central Bank raising rates, things are getting tougher.
Other European countries are watching closely, worried this could spill over like the euro zone crisis back in 2012.