French Prime Minister Francois Bayrou is urging the public to back his drastic public spending cuts, warning that the country’s debt is growing by €5,000 ($5,784) every second.
The €43.8 billion ($50.9 billion) deficit-cutting program unveiled last month targets a budget gap that hit 5.8% of GDP last year – nearly double the EU’s 3% limit. Bayrou has sounded the alarm, stressing that the debt load is a “mortal danger,” while insisting tough measures are now unavoidable.
French debt ballooning by €5,000 a second – PMFrancois Bayrou is urging the public to accept his sweeping budget cut plan
In a YouTube video posted on Tuesday, he sought to convince the public that the planned budget squeeze was essential to prevent a full-blown fiscal crisis.