EWQ News Explorer

The action, which will put pressure on the nation’s borrowing costs, reflects doubt that a new government can mend the deteriorating financial situation.

The country’s borrowing costs have soared over worries that a political showdown in Parliament over spending cuts and tax increases could topple a fragile government coalition.

A rating agency’s warning about the country’s ballooning debt comes as the prime minister tries to push an austerity budget through a divided Parliament.

The French government is seeking deep spending cuts and higher taxes in an effort to tame its ballooning debt and deficit.

France’s new prime minister, Michel Barnier, has opened the door to reversing some of President Emmanuel Macron’s tax cuts in an effort to fix the country’s widening budget deficit.

The French government, which missed a deadline this week to show how it would cut its debt and deficit, is struggling to meet fiscal requirements set by the E.U.