When issues received robust, European finance ministers used to sigh and say that at the very least they weren’t Greek. At the moment, some would battle to make such a remark. On December 2nd the yield on Greek bonds fell beneath that on French ones, indicating buyers thought it safer to lend to Greece than France. The yield on French bonds is now 0.8 proportion factors above German bunds, the euro zone’s benchmark, which is the widest hole because the near-collapse of the euro in 2012. On December 4th the French authorities crumbled in a row over spending.
