France Faces Debt Crisis as PM Warns of "Sword of Damocles" Over Colossal Spending Burden

French Prime Minister Michel Barnier has announced plans to address the country's financial challenges through a combination of higher taxes and spending cuts. Barnier has also proposed that the wealthiest French individuals make an exceptional contribution to help alleviate the financial burden. He cited France's reduction in greenhouse gas emissions in 2024 as evidence of the country's ability to take effective action. However, Barnier acknowledged that France's debt is a significant concern, describing it as a "sword of Damocles" that poses a financial threat. Despite the challenges, Barnier expressed confidence that the government can overcome obstacles through steady progress, rather than attempting to achieve miracles.