Politico described France as "the sick man of Europe" and said its economy, the second largest in Europe, is sliding into two mutually reinforcing financial and social crises.
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Former Prime Minister Michel Barnier told the newspaper that France was on the brink of a financial crisis and that they needed to send a signal to the markets.
The newspaper pointed out that even before the demonstrations began in the country, investors were getting rid of French debt or demanding historically high returns due to the government's failure to reduce the high budget deficit, cut debts of 3.5 trillion euros, stimulate growth, and reform an unsustainable pension system.
She noted that the prospect of a presidential runoff next spring between Marine Le Pen and Jean-Luc Mélenchon is further scaring investors, as both candidates want to spend billions to lower the retirement age.
Given that current Prime Minister Sebastien Lecornu's 2027 budget already includes 43 billion euros in savings, the government faces an impossible choice between borrowing more or hoping the protests will die down on their own. A government minister, speaking on condition of anonymity, said they have a knife to their throats and can feel the blood dripping down their jugular veins.
Mario Monti, who faced a similar situation as Italy's prime minister, said things could move very quickly, and that France was not psychologically prepared to see itself as the target of a crisis or even as the starting point of a crisis that could spread.
The newspaper noted that pessimism has driven voters towards more extreme candidates such as Le Pen and Mélenchon, with nearly 50 percent of voters intending to vote for an anti-establishment figure.
Officials, parliamentarians and diplomats agreed that France is not exposed to a scenario similar to Greece, but it could experience a crisis similar to Italy's in 2011. Parliamentarian Charles de Courson said that France has lost all credibility with its European partners when it comes to financial matters.