THE FRENCH OPENLY DEAL WITH THEIR DEBT! LES FRANÇAIS TRAITENT OUVERTEMENT DE LEUR DETTE !
English version The contrast between how debt is debated in France and in Gabon reveals two very different approaches to macroeconomics and public governance. On one hand, we observe a technocratic and institutional discourse, and on the other, an eminently political discourse focused on sovereignty and structural development. Upon reading the provided Le Monde articles, the debate on debt in France revolves around highly precise macroeconomic mechanisms and expert semantics. The obsession with rates and financial mechanics: The debate is centered on the risk of the "snowball effect," a situation where interest rates become higher than economic growth, causing debt to spiral out of control. The discussion focuses on bond yields, such as the fact that the State had to commit to interest rates of 3.9% for ten-year bonds. An institution-led debate: The actors in this debate are the Agence France Trésor (which manages borrowing on the markets), the Court of Aud...