France is Facing a Fiscal Crisis. A Nobel Economy Prize Winner Said it May Have Become 'Too Big To Save.'

Nobel Prize winner Paul Krugman said France is in a "fiscally unsustainable path" and may have become "too big to save." (Credit: Getty Images)

Nobel Prize winner Paul Krugman said France is in a "fiscally unsustainable path" and may have become "too big to save."

In a new assessment published in his Substack, Krugman said the "spike in interest rates on French government bonds over the past month has been especially large" as the financial markets began to treat the country as the "economic sick man of the Western world."