France is facing a staggering £2.58trillion 'debt explosion' and could soon be forced into the humiliation of an International Monetary Fund (IMF) bailout as Emmanuel Macron's government teeters on the edge of collapse.
Eric Lombard, the Economy Minister, issued a stark warning that 'a risk exists' that the IMF will be forced to bail out Paris.
The revelation comes amid widespread predictions that the French Government may be toppled in a matter of weeks after Prime Minister Francois Bayrou, 74, said he would seek a vote of no confidence in Parliament.
Opposition parties from Jean-Luc Melenchon's radical-left France Unbowed to Marine Le Pens right-wing National Rally have vowed to bring Bayrou down. Even members of his own camp branded the move reckless. Nicole Dubre-Chirat, one of Bayrou's MPs, said his decision to seek a vote of confidence was 'suicidal'.
If he falls, the country would be left rudderless and without a budget at a time when France is groaning under £2.85trillion of debt and facing a deficit of 5.4 per cent of GDP.
