Writer William Briggs reports that more than half a million people have protested across France against government austerity cuts, rising fuel prices and living costs, with thousands arrested. The French government is reportedly making budget cuts of 54 billion, and the IMF has called for cuts to public spending, citing a global government debt-to-GDP ratio of 95.3% and 108.2% for advanced economies. France's debt servicing in the coming year is set to reach 65 billion, and the head of the Bank of France warned the country risks being strangled by interest rates unless public finances are addressed. The author argues the unrest reflects a wider crisis driven by global debt, AI investment and militarisation, pointing to a projected world military budget of $3 trillion this year.
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| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 1.12044 |
| Change that session | -0.11% |
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