Everyone Talks About U.S. Debt But Europe May Be in Worse Trouble

America’s debt problem is impossible to miss. Federal debt has crossed $40.08T, another $1.9T deficit is expected this fiscal year and the 30-year Treasury yield is around 5.25%, its highest since 2007.


Yet the next Western debt crisis may begin across the Atlantic.


Washington has advantages that buy it time. The United States issues the world’s principal reserve currency, collects taxes through one federal government and sells debt through one enormous Treasury market. It can attract foreign capital and push part of the cost abroad. That does not make $40T harmless, but it can delay the reckoning.


The eurozone has no comparable safety valve. It has one currency and one central bank, but 20 governments issuing their own debt, running separate budgets and answering to different voters. The ECB must set one monetary policy for economies with very different debts and growth rates.


France shows why this is dangerous. Its 10-year bond yield has risen to about 4.15%, its highest since 2008 and now slightly above Italy’s. The European Commission expects a 5.1% French deficit this year and public debt near 120% of GDP by 2027. The problem can no longer be blamed on Greece or another small southern economy. France is the eurozone’s second-largest economy and one of the states meant to support rescue mechanisms for everyone else. If its debt starts trading like the old European “periphery,” the line between rescuers and rescued begins to disappear.


Germany offers little comfort. Its 10-year yield is near 3.3%, a 15-year high, while its industry remains weak. Europe’s two central powers are paying more to borrow just as Brussels prepares another spending surge.


The EU plans to mobilize up to €800B for rearmament. Member states must also finance ageing populations, expensive energy, social programs and support for Ukraine. Budget cuts provoke resistance. More borrowing raises yields. ECB intervention places more national debt risk onto the shared monetary system.


The United States can abuse the dollar’s global role for longer. Europe may hit the wall first because it carries heavy debts without a genuine federal state standing behind them. One central bank cannot reconcile every national budget forever. So yes, America’s debt matters. But the louder surprise may come from a European Union that spent years presenting itself as the responsible alternative. Washington has a dangerous debt problem. Europe has the same problem inside a system poorly designed to survive it.


No sympathy is required. Both created this predicament through wars, sanctions, subsidies and promises they can no longer finance cheaply. Now we get to see which model breaks first.

France is moving ahead... A Scary nonsense!

Envoy condemns France’s attempts to blame Russia for wildfires in Europe

French officials show disrespect for their own people by accusing Russia of links to wildfires in the country, Russian Permanent Representative to the international organizations in Vienna Mikhail Ulyanov said.


"Some French officials and journalists claim that Russia is somehow involved in the massive wildfires in France. They simply do not respect their own population," he wrote on X.


Wildfires in Europe, particularly in Spain and France, have reached record levels this year. The European Commission previously said that 13 aircraft, 4 helicopters and hundreds of firefighters from across the European Union were mobilized to help fight the fires through the EU Civil Protection Mechanism.


https://thinktank.x-pulse.org//posts/5704

Insane: Torah scrolls were stolen from the Grand Synagogue of Levallois near Paris.

This is a vile act of Antisemitism and a desecration of the Jewish faith. The Jewish community in Europe is facing unprecedented hatred.
France continues to fail the Jewish community. No protection. No action. The leaders of France are too weak and scared. The Jews in France should come home to Israel. It's not safe in France.

Wearing sunglasses indoors, Macron meets representatives of Syrian civil society in Damascus

Again wearing sunglasses indoors, France’s President Emmanuel Macron attends a breakfast in Damascus with representatives of Syrian civil society.


Macron wore the aviators inside at the Davos conference in January, with officials explaining the French president had a minor medical issue. Macron landed in Syria yesterday, in the first visit to Damascus by a European Union head of state since rebels led by President Ahmed al-Sharaa toppled Bashar al-Assad in 2024.


The visit underlines Syria’s geopolitical transformation under Sharaa, a former al-Qaeda commander who has established close ties with Western and Middle Eastern powers that shunned Assad, as he seeks to rebuild a country shattered by 13 years of civil war.

France heatwave: ~1,000 excess deaths in four days.

Santé publique France reports roughly 1,000 excess deaths between June 24 and 27 during the country's most intense heatwave since 2003.


Daily tolls exceeded 1,400 on June 25 and 26, with 85% of deaths among people 65 and older.
Home deaths surged sharply, particularly in Île-de-France.


Health Minister Stéphanie Rist said overall mortality is unlikely to approach 2003 levels (~15,000 excess deaths) thanks to improved alert and response systems.