Is France the "new Greece" of Europe? Protests, rising debt, and the lessons from Greece's crisis
A weekend of widespread protests and riots in France has put the spotlight on the many challenges facing the country, from political paralysis to a looming debt crisis. Some pundits and observers are even asking if France, the Eurozone’s second largest economy, is the new Greece of Europe, an ode to Greece’s debt crisis in the 2010s.
While this comparison misses the mark in many ways, Europe is on alert as France’s debt costs hit 25-year highs recently. Throw in social unrest, a 2027 presidential race with far-right and far-left candidates leading in the polls, and a tense geopolitical environment, and it’s no secret why anxiety is building in Europe’s capitals - including Athens - as it seems what happens in France doesn’t necessarily stay in France.
For Europe, this has become an autumn of protest, as the continent’s youth took to the streets in France, Italy, Albania, Spain and Portugal demanding a response to the cost of living crisis, investments in education, solutions on housing, and plans to tackle unemployment. As Europe’s youth look for answers to these problems, they are also increasingly up against the continent’s demographics. In an ageing continent, where the youth vote is shrinking, is the political will there to address their concerns?
Steven Erlanger, Yannis Palaiologos, and Tim Vlandas join Thanos Davelis this week as we look at the unrest in France, the protests in Europe, and break down whether France is turning into the new Greece.
A little more info on our guests:
Steven Erlangler is the chief diplomatic correspondent for The New York Times covering Europe.
Yannis Palaiologos is a journalist at large with Kathimerini and Inside Story
Tim Vlandas is a Professor of Comparative Political Economy and Social Policy at Oxford.
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