On October 17, between 550,000 and 800,000 people demonstrated in France against the rising cost of living, deteriorating public services, and education conditions. The state has far less fiscal capacity than in 2018 during the Yellow Vests movement: public debt reached 3,595.5 billion euros, or 119% of GDP, by end of June, and the deficit is expected to reach 5.4% this year. Financial markets reacted with French 10-year bond yields approaching 4.9% and the CAC 40 falling 1.1% on October 19. Households remain under strong inflationary pressure, with prices rising 3.1% year-on-year in September, including 21.3% for energy and 44.1% for diesel. Faced with this situation, savers are seeking to diversify their wealth into foreign stocks or Bitcoin.
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