France’s public debt has exceeded 3.6 trillion euros, equivalent to 119% of GDP, but the state cannot confiscate individuals’ savings without a public necessity established by law and fair compensation. An amendment to the 2027 budget proposed a 17% levy on unclaimed funds held in certain inactive accounts, savings books and life insurance contracts, generating an estimated 1.4 billion euros from 8.1 billion euros in eligible assets; it was removed by the National Assembly on 2 November but could be reinstated by the Senate. In the event of a severe crisis, the state can temporarily restrict life insurance redemptions for up to six months or limit certain withdrawals from a troubled bank, although neither mechanism has yet been activated. Bank deposits remain protected up to 100,000 euros per person per institution, while the deposit guarantee fund held only 7.5 billion euros at the end of 2025 to cover 1.5 trillion euros in guaranteed deposits. In France, taxation remains the most likely lever, particularly following the increase in social levies on dividends, interest and capital gains, while self-custodied Bitcoin remains beyond the reach of intermediary restrictions and seizures but must still be declared and is taxed when converted into euros.
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