Editorial: Le Monde

• Germany breaks with budgetary orthodoxy and plans to raise 850 billion euros before 2029 to fund a rise in its spending.
• The EU's leading economy plans to use its fiscal virtue from previous decades to boost its economy through massive investments, injecting 120 billion euros each year until 2029.
• While Germany debts to invest, France continues borrowing primarily to finance its operating expenses.
• Unlike Germany that has patiently built fiscal maneuverability, France struggles to regain it due to a lack of both a parliamentary majority and reformative will.
• France may suffer macroeconomic implications from not having tackled its imbalances timely.

Conclusion: Even though Germany's massive investment plan will break EU rules, Germany will be in a much better position than France. France should take control of its public finances to prevent falling behind its main economic partner - Germany.

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