Economy
France's Borrowing Costs Surge as Bond Market Pressure and Budget Deadlock Bite
French government bond yields have reached their highest level in nearly 25 years, with investors demanding more to hold the debt of Europe's second-largest economy. A fragmented parliament, street protests and a projected deficit of 5.4 percent of GDP are complicating efforts to pass 54 billion euros in budget savings. Economists say a default is unlikely but warn that delay makes a debt crisis less remote.