Which G7 country goes bankrupt first?
Not Japan - they owe 204% debt to GDP but its all debt owned by Japanese institutions not foreign institutions so its safe.
Who do you owe is important.
Not the USA - they owe 126% debt to GDP and $1.4t in annual interest but they owe dollars and print dollars so they safe. The only way the US defaults is if they choose to.
What currency you owe is important.
Germany - half its debt is held by Germany but they use Euro and cant print however they have the highest EU bond rating and are a EU flight to safety.
Canada - 111% debt to GDP, but lowest government debt - safe. Best books of the 7.
UK - 5.4% to borrow highest of the G7 but clear.
Italy - on the ropes - 138% debt to GDP
Credit rating lower than France.
Owe little to foreigners compared to France. Cant print Euros.
France - the biggest risk of default of the G7 - 118% debt to GDP - owes 50% of debt to foreigners. Deficit is 5.4% of GDP. Pay 1.9% on old debt but 4.9% on new debts with massive refinancing due in 2026. Cant print Euros.
High probability France will default.
Now do you understand why there are “riots” in France?
All societal issues are based on economic issues.