Earlier this month, something occurred in the bond market that had not been seen for over a decade, concerning one of the most important countries in the world. France is not some peripheral economy, as was Greece , and is preparing to clash with debt markets as the slide toward the cliff is, according to all indications, unavoidable. With public debt approaching 3.6 trillion euros, France owes more than any other nation in the Union, including Italy and Germany . When Greece reached the brink of bankruptcy in 2010 , threatening to drag down the entire Eurozone , its public debt stood at roughly 330 billion euros. The markets imposed their discipline on a small and shallow economy, now the stakes are higher.
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