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The Assembly Is Fractured

Oct 14, 2026 · 0:33

Word arrived from France of a budget and its students. Ambrose: 54 billion euros of savings, and the schools in revolt. Pim saves 54 acorns. The Toll Keeper: prime minister after prime minister was ousted for trying. Prudence: debt is 119% of GDP; the EU rule says 60%. The assembly is fractured. The sum is not.

The 54 billion euro budget that France's students are protesting must now pass a fractured National Assembly that has ousted prime minister after prime minister for trying to cut spending or raise taxes; France is under the EU's excessive deficit procedure, with a deficit of 5.1% of GDP against the treaties' 3% reference and debt at 119% against 60%, so the students' demand for more school money arrives while the government is trying to spend less.

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A violent classroom revolt is becoming France’s next big crisis

CNBC · Oct 2, 2026

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