More bad economic news for France. Official data show that the country’s public debt has soared to more than TWO trillion euros.
According to the national statistics agency, this is the first time that the public debt of the euro zone’s second-biggest economy has soared to this level. The figure represents over 95 percent of the gross domestic product. But under the European Union rules, the debt should be limited to 60 percent of the GDP. President Francois Hollande, whose approval rating is at only 13 percent, is under fire for the country’s zero economic growth and his failure to curb the unemployment rate.Simon Dixon