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French election rattles markets amid debt concerns

The Washington Post — June 22, 2024, 12:00 PM UTC

Summary: French President Macron's snap election decision has raised concerns about France's financial stability. The CAC 40 stock market dropped 6%, and French bonds sold off. The deficit is at 5.5% of output, with plans to reduce it to 3% by 2027. IMF warns of a potential debt crisis. French bonds' interest rates rose from 2.4% to 3.2%. Markets are volatile ahead of the July 7 parliamentary voting.

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Timeline:

  1. [4.3]
    France's deficit puts it at odds with EU (POLITICO Europe)
    91d 6h
    Source
  2. [5.2]
    France warned by E.U. for 'excessive' deficit before elections (The New York Times)
    91d 8h

    ScoresSource
  3. [3.4]
    ECB's Lane downplays need to intervene in French bond market (Financial Times)
    93d 11h
    Source