Nobel laureate in economics Paul Krugman has issued a stern warning about France's deteriorating public finances, stating bluntly that the Eurozone's second-largest economy may have already crossed from "too big to fail" into the dangerous territory of "too big to save." He believes France is on a fiscally unsustainable path, and that if a debt crisis erupts, the cost of a European Central Bank (ECB) bailout would be extraordinarily high and potentially politically untenable. In a blog post published on Substack on October 8, Krugman pointed out that French government bonds have suffered massive sell-offs in recent months.
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