French borrowing costs continued to rise on Thursday, as investors fret that France’s government is struggling to pass a federal budget after public protests gripped the country.
France’s bond market was hit with another bout of selling, with the difference between French and German 10-year borrowing costs – a metric for the risk premium attached to French debt – rising to its highest level in almost 15 years.
Each country’s protesters have distinct grievances. Listen to them, not the voices telling us Europe is ungovernable
Last Saturday night, the town hall of Limoges in west-central France was set ablaze. By Sunday, images of the fire destroying a symbol of the French republic, and other scenes of unrest across France, were everywhere, but being used to tell very different stories about what is happening in Europe.
For some, the flames announced a pan-European youth revolt, proof that a single movement was sweeping the continent. Donald Trump, who had already insisted that the French schools protests were not about schools but about migration and Islam, urged Europeans to “close the borders”. The mayor of Limoges saw the fingerprints of an alleged ultra-left insurrection.
Alberto Alemanno is the Jean Monnet professor of EU law at HEC Paris and the founder of The Good Lobby
Author withdrawn from France’s Prix Goncourt last month has repeatedly denied using artificial intelligence to write novel
The publisher of top-selling Haitian Canadian writer Thélyson Orélien, who was removed from France’s most prestigious literary prize list last month, has confirmed the author used artificial intelligence to help write his novel C’était ça ou mourir (It Was Either That or Die).
Orélien has denied allegations that he used AI on his breakthrough novel and, last week, Canadian publisher Les Éditions du Boréal said it was standing by the 38-year-old writer.
Steve Witkoff’s flattery of the Russian leader could be just the start of a mendacious stratagem from a US president who says Moscow ‘has been fine on Ukraine’
They say the first casualty of war is truth. For the Trump administration, the road to peace with Russia now encompasses some extraordinary lies.
Steve Witkoff delivered one as he sat down with Vladimir Putin in St Petersburg on Wednesday, aiming to close the deal on Russia’s land grab in Ukraine with the White House’s strategy of maximum pressure on Kyiv and saccharine flattery of the Kremlin.
Measures would remove some penalties for those helping women access abortion but are ‘small-scale step’, say campaigners
Poland’s lower house of parliament has approved two bills aimed at loosening a near-total ban on abortions, in what campaigners have described as a “small-scale step” ahead of protests calling on the government to fulfil its promises to overhaul the country’s laws.
The new measures, which are likely to be vetoed by Poland’s nationalist president, would remove some of the criminal penalties for those who help women to access abortion care and allow terminations in cases of foetal abnormalities.
European Commission calls accommodation website’s approach to fraudulent listings and phishing scams as ‘absolutely substandard’
EU regulators have opened an investigation into Booking.com, alleging that the accommodation website has not done enough to protect consumers from fake listings and scams.
The European Commission, which regulates the world’s biggest tech companies operating in the EU, said Booking.com may have breached the EU’s Digital Services Act (DSA) with its “absolutely substandard” approach to tackling fraudulent listings and phishing scams, where criminals impersonate a third party to trick people to hand over money.
Leaders criticised for spreading misleading information as France prepares for further protests this weekend
Emmanuel Macron has accused Donald Trump and other foreign leaders of making “stupid comments” about France’s street unrest for political gain, as the country prepared for more protests this weekend.
Speaking during a visit to Qatar, the French president did not name names but said “manipulation of information” after Saturday’s riots had led to “comments that are as unacceptable as they are stupid, from many people, including foreign leaders”.
Nationalist leaders are framing unrest as consequence of failed liberal governance and open borders
Europe’s far-right leaders have jumped on the violence that rocked numerous cities last weekend, framing it as the inevitable consequence of failed liberal governance and open-border policies and insisting only they can restore law and order.
Months away from key elections in Spain, France and Italy, authoritarian nationalists are eager to weaponise the wave of street unrest, originating in peaceful protests over the cost of living and deteriorating public services but hijacked by violent rioters.
As US support ebbs away, looming European elections and growing financial strains across the continent could fracture the precious coalition that has kept Ukraine afloat
Europe woke up last Friday to another belligerent outburst from Donald Trump – this time berating Ukraine’s wartime leader Volodymyr Zelenskyy again. Just a few days after his diesel deal with the Kremlin, the US president said Zelenskyy was more difficult to deal with than Vladimir Putin and blamed Ukraine’s leader for rocketing oil prices – without any reference to the impact of his own war on Iran.
The contrast in Europe was obvious. When Zelenskyy walked into the multi-coloured summit room of the European Council headquarters in Brussels that Friday morning, the EU’s 27 leaders burst into applause, getting to their feet to offer big hugs and brisk handshakes. European Council president António Costa told Zelenskyy and the media: “This is no time to withdraw the support to Ukraine,” calling instead for increased pressure on Russia. Zelenskyy was thankful, pointedly saying he was happy to have “huge support” from “real leaders”.
Yield on 10-year government bonds passes 5% amid failure to pass budget and fallout from violent street protests
France’s borrowing costs have climbed above 5% for the first time in 24 years as political concerns and the government’s failure to agree a much-delayed budget spook the financial markets.
With some civic buildings still smouldering from recent riots, a fresh bout of selling pushed up the yield – or interest rate – on bonds issued by the second largest economy in the eurozone.
Russia frees Stephen Hubbard after US request while Steve Witkoff praises Putin, wanted by ICC as war criminal, as a ‘humanitarian’
Vladimir Putin ordered the release of an American man from a Russian jail as he met Donald Trump’s envoy Steve Witkoff in St Petersburg on Wednesday for fresh talks on ending the war in Ukraine, amid increasingly close relations between Moscow and Washington.
Trump had previously asked Putin to free Stephen Hubbard, a 74-year-old former teacher who had spent more than four years in Russian jails on charges of fighting as a mercenary for Ukraine.
At 3pm BST / 4pm CEST Friday 23 Oct, Guardian Europe columnists Rokhaya Diallo and Alexander Hurst will be live taking questions from our readers about the riots and protests in France. Send your questions by email now to conversations@theguardian.com, or join the discussion on Friday
After weeks of protests and a weekend of riots in which a town hall was set ablaze, 2,000-plus shops were looted, 2,300 people were arrested and 1,000 police injured, the repercussions for France – for its society and its economy – continue. Allegations of police brutality surfaced, and the violent protests unnerved investors, resulting in a debt sell-off, with borrowing costs rising higher than for Greece. All of this ahead of a hotly contested presidential election that’s now just six months away.
The French government’s escalating financial problems were covered by the Guardian’s Europe correspondent Jon Henley who wrote: “France’s national debt, at 119% of GDP, is at its highest level since 1946. Its budget deficit, at 5.1%, is also among the highest in the EU. There is just no money in the bank to ease the cost of living squeeze that brought 550,000 people on to the streets on Saturday.”
In France, it was the piles of wheelie bins stacked up against school entrances that first hinted at the scale of student anger over crumbling classrooms and teacher shortages. In Spain, it was a tent camp that steadily grew in the heart of the capital as residents railed against soaring housing costs.
Similar scenes have since sprung up in Belgium, Italy and Portugal, and clashes have convulsed Albania’s capital of Tirana, hinting at an autumn of protests across Europe.
Students, teachers and civil servants have shown up in Athens, with demonstrations also in Thessaloniki and other cities
Meanwhile, back to Witkoff’s meeting with Putin in St Petersburg, the US president, Donald Trump, has just welcomed the release of Stephen Hubbard, a US citizen held by Moscow on allegations of fighting as a mercenary for Ukraine (11:24).
“Stephen Hubbard, taken four years ago by Russia during the Biden Administration, was just released from prison, at the request of President Donald J. Trump, made directly to President Vladimir Putin in a telephone conversation last week.
Stephen is on his way back home and will soon be with his family. The United States, out of respect for President Trump, was not required to give anything in return - an unprecedented situation for Russia. There was no “swap” necessary for this release.
Shot by Sofia’s mother Eleanor this documentary shows something of the strain of shooting a period piece, but is a far cry from the tumultuous portrait of her husband in Hearts of Darkness
It is 20 years since the release of Sofia Coppola’s Marie Antoinette starring Kirsten Dunst; it is a supportively unjudging, unironised study of the queen’s early years before the 1789 revolution, lavishly and accurately costumed, shot on location at Versailles and based on the Antonia Fraser biography – but also subversively and amusingly using pop tracks from the 70s and 80s on the soundtrack. It got a storm of booing from French critics, reportedly annoyed at the way their history had been reduced to a music video and fashion shoot with no French actors involved. Or hardly any.
In fact, for all the lack of political grit, the film was interesting and accomplished, and deservedly has a fanbase – and it is to that constituency that this making-of documentary from the director’s mother Eleanor Coppola is really addressed. It is basically a sweet family home movie on digital video which shows something of the strain and the longueurs of shooting a demanding period picture, but tactfully not seeing anything really explosive or bad-tempered. It is very far from Eleanor Coppola’s sensational behind-the-scenes film Hearts of Darkness: A Filmmaker’s Apocalypse about the tumultuous creation of Apocalypse Now, directed by her husband Francis Ford Coppola.
Student activists seem set to defeat Aleksandar Vučić at the ballot box this Sunday. The EU should never have written off Serbian democracy
History may not be about to repeat itself in Serbia, but it is beginning to rhyme. Just over a quarter of a century ago, Serbian citizens turned out to vote in large numbers to inflict a historic defeat on the then strongman in Belgrade, Slobodan Milošević, who was seeking re-election as president. He lost despite his extensive control over the media, the judiciary and the security forces. When he was reluctant to leave office, Serbs poured on to the streets in their hundreds of thousands, finally forcing him to go.
On Sunday, a new generation could have the decisive voice in an equally fateful election, this time for the national parliament. Today’s strongman, Aleksandar Vučić, recently resigned as president to fight the election with the aim of swapping the locus of power from the presidency to the prime minister’s office.
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