法国政府又要垮台？行业大罢工在即，“债券义勇军”正盘旋

Group 1 - The French National Assembly will hold a confidence vote for Prime Minister Borne on September 8, amid rising fiscal deficits and potential strikes [1][2][4] - The French government aims to cut €43.8 billion in spending to alleviate the current fiscal deficit, but faces opposition from both left and right political factions [4][5] - France's debt is increasing at a rate of €5,000 per second, with debt repayment costs expected to reach €75 billion next year [5][6] Group 2 - The current fiscal deficit is projected to be 5.8% of GDP in 2024, nearly double the EU's 3% limit, with plans to reduce it to 4.6% [5][6] - The political landscape in France is fragmented, with three incompatible factions in the National Assembly, complicating governance and fiscal reforms [7][8] - A significant portion of the French population (78%) supports spending cuts, yet many do not specify how to achieve these reductions [11] Group 3 - The bond market is reacting to the political uncertainty, with French bond yields rising significantly compared to German bonds, reaching an 80 basis point spread [1][10] - The concept of "bond vigilantes" is emerging, indicating that investors may force the government to take action due to rising yields [10][11] - The current political deadlock in France makes it particularly vulnerable to market pressures, with potential implications for its fiscal stability [10][11]