France's Borrowing Costs Rise as Debt Worries Grow
Listen to the story
France must pay more money to borrow now. This is called a spread. The spread between France and Germany is 140 basis points. This means France pays more interest than Germany.
France's interest rate on its debt went above 5%. This is the first time since 2002. Interest rate is the extra money a country pays back when it borrows money.
A country's debt is money it owes. France has a lot of debt. People worry about how France will pay it back.
The problem is linked to France's budget for 2027. A budget is a plan for spending and saving money. People are worried about France's money plans.
Some experts say France will soon feel the real cost of paying 5% interest. This could mean less money for other things.
Many people are watching France's money problems closely. The government must find a way to fix the budget.
Vocabulary5 words
- spread
- the difference between two numbers
- basis points
- a small unit used to measure interest rates
- interest rate
- extra money paid back when you borrow money
- debt
- money that you owe to someone
- budget
- a plan for spending and saving money
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Quiz
Answer key
1. 140 basis points 2. 2002 3. False
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
France must pay more money to borrow now. This is called a _____. The _____ between France and Germany is 140 _____. This means France pays more interest than Germany.
France's _____ on its _____ went above 5%. This is the first time since 2002.
The problem is linked to France's _____ for 2027. People are worried about France's money plans.
Some experts say France will soon feel the real cost of paying 5% _____.
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