France Now Borrows for 10 Years at Almost the Same Yield as Italy and Greece, Around 4.5%

France now borrows for 10 years at almost the same yield as Italy and Greece, around 4.5%.
For two decades France was the safe core of Europe while those two were the risk trade. That gap has closed. The market has repriced France from core to periphery after decades of deficits and a budget it has not balanced since 1974.
Once lenders stop treating your debt as safe, every new deficit costs more and the math only gets harder. France is the test case for every developed country running deficits forever.