The publications of indicators showing an improvement of French public accounts and a stabilization of its debt, has been immediately followed by alarming comments on its still excessive level and on the risks it weighs on the country.
First, this rhetoric has no influence on international investors. Since the beginning of the year, The Treasury has issued short term paper carrying negative interest rates, close to –0.5% recently. So, subscribers have agreed to pay an interest to the State to acquire its securities. Switzerland, Japan and Germany are in the same situation. The result is also favorable when France ...