French President Emmanuel Macron condemned “unacceptable” and “stupid” comments from foreign leaders, including Donald Trump, after mass protests and the worst rioting in France in years. Protests also took place in Italy, Spain, Portugal and Albania, while thousands marched in Greece in solidarity with French students. The social and political crisis has been compounded by a fiscal crisis, with the yield on French 10-year government bonds reaching 5.113%, its highest level in 24 years and above the U.S. 10-year Treasury yield for the first time since 2013. The government, which lacks a parliamentary majority, is debating its 2027 budget, while insured losses related to the unrest are estimated at up to 1.2 billion euros and France’s 2026 growth forecast has been revised to 0.5%.
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