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Features Australia

Governments confront unsustainable debt

Hard choices and tougher times await

9 November 2024

9:00 AM

9 November 2024

9:00 AM

When French Prime Minister Michel Barnier addressed parliament for the first time in October, he warned higher taxes and spending cuts were needed to tackle Paris’s budget deficit and ‘colossal’ debt, which, at 112 per cent of GDP, leaves the ‘sword of Damocles hanging over the head of France and every French person’.

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