France's soaring default insurance now tops nearly a decade, and its banks feel the strain

The cost of insuring French debt against default has hit its highest in almost a decade, rising faster than for any other government. Behind it sits a 2027 budget fight that could topple Lecornu's administration, the third year of such drama. French banks including BNP Paribas American Depositary Shares (BNPQY) have lagged European peers on the debt worries. The iShares MSCI France ETF (EWQ) carries the same strain.