Editorial: El Mundo

• French Prime Minister, Michel Barnier, has outlined a harsh government plan focused on public spending cuts and a temporary tax increase for corporations and the wealthy.
• France is on the edge of the 'precipice' due to massive debt (110% of GDP) and an unsustainable deficit (6%), which has led the EU to include the country in the disciplinary procedure for excessive deficit.
• Despite reforms led by Macron, such as pensions, they have been insufficient.
• France's unsatisfactory economic situation is drawing investors' attention, who fear a political deadlock that could sabotage indispensable budget cuts.
• Barnier points out the need to abandon the illusion that everything is free and the temptation to subsidize everything.
• The editorial advises Spain not to ignore the French situation, emphasizing that EU flexibility with Spanish deficit should not lead to complacency and highlighting the need for reforms.

Conclusion: France's situation offers a stark lesson: structural reforms, though complex and politically costly, should be implemented in times of prosperity before a country's finances are overwhelmed.

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