France is about to go kaput – ditching Brexit now would be utter madness

France is about to go kaput – ditching Brexit now would be utter madness As EU country's economy tanks in the wake of furious riots, UK's current position could be our greatest shield Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Add us as preferred source Comments OPINION By Martyn Brown , Political Editor 11:48, Wed, Oct 21, 2026 Updated: 11:55, Wed, Oct 21, 2026 Fierce riots are taking place in France, but Emmanuel Macron might have even bigger woes (Image: Daily Express) France is in the “merde”, in case you hadn't already noticed. The country is on fire thanks to widespread civil unrest that has led to riots, looting and left historic buildings smouldering. But while the French are revolting and setting things alight , a far more dangerous firestorm is raging through European financial markets. Emmanuel Macron’s bloated state is facing a catastrophic fiscal reckoning that threatens to plunge the Eurozone into an unprecedented existential crisis. The crucible of this is France's out-of-control welfare state and an embarrassing lack of economic growth. Article continues below ADVERTISEMENT France protests: Cars set alight in Paris violence France spends an eye-watering sum on state services, with crippling pension commitments eating up immense public resources – such as £20billion out of a £73billion annual education budget spent purely on pensions. To cover its ballooning deficit and refinance existing obligations, the French government faces raising a staggering £585billion a year. Bond markets have recoiled in horror. French 10-year government bond yields have surged toward 5%, widening the yield gap against German bonds to levels not seen since the height of the sovereign debt crisis. Article continues below ADVERTISEMENT Investors simply do not want French debt without a steep risk premium. As the Eurozone’s second-largest economy, France’s tailspin is sending shockwaves across the single-currency bloc. Article continues below ADVERTISEMENT European banks hold trillions in sovereign debt, reviving fears of a return to a financial "doom loop". Worse still, France may soon be forced to beg Brussels for a colossal bailout. Britain will end up like France if we don’t tighten our borders, Kemi Badenoc... Nigel Farage vs Kemi Badenoch - the battle for the Right is going to get hotter Get the latest politics news - straight from our team in Westminster and more I would like to receive emails from the Daily Express featuring our latest products, services, offers, and promotions from across the Reach Plc family . Subscribe Invalid email You agree you are 18 or over. We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and third parties based on our knowledge of you. You can unsubscribe at any time. More Info . But while smaller economies could be rescued during previous crises, France’s sheer scale means it is perilously close to being too big to save. If Paris demands an emergency lifeline, the EU will face a stark choice. Either Brussels agrees to underwrite French debts – forcing a full fiscal union that turns European taxpayers into perpetual guarantors – or it refuses, leaving its economy effectively kaput. For Britain, this is a stark reminder of why we were right to leave the EU. While a French financial collapse would inevitably trigger global market tremors worse than 2008, the UK remains protected by holding its own currency, the pound. Crucially, British taxpayers are not liable for the EU’s colossal mountain of debt. Yet Left-wing politicians continue to argue for dragging Britain back into Brussels' orbit. Hitching our wagon to a sinking, slow-growth EU would be utter madness. As France burns and the euro teeters on the brink, Britain’s Brexit freedom is our greatest shield. Brexit News Eurozone France France riots Emmanuel Macron Share Article Share Article Facebook X LinkedIn Reddit Bluesky Email Copy Link Link copied Add us as preferred source Comments