Decryption – While Rome collects the benefits of its budgetary discipline and that Essenes benefits from a limited bond market, France sees its borrowing costs climbing.
It is a symbol that few French officials imagined seeing arriving so quickly: French debt is now almost as expensive to finance as that of Italy, and its rates regularly exceed those of the Greece. Tuesday, August 20, French state bonds at ten years old was exchanged at 3.43%, compared to 3.54% for Italy and 3.38% for Greece. In other words, “The 10 -year rate gap between France and Italy oscillates around the 5 basic points”underlines Dorothée Rouzet, economist chef at the Ministry of the Economy. Greece is also regularly perceived as a better borrower than France. She specifies that “The substantive trend is indeed that of a marked rapprochement since 2023.”
For three years, Rome has reduced its deficit continuously, returning to 3.4% of GDP in 2024 against almost 7.2% in 2023. The end of citizenship income and the abolition of the very expensive “superbonus” system allowed the Giorgia meloni government …
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