It’s wall-to-wall economics in the French papers today: they’re pouring over the numbers in the state auditor’s report, and with the state of public finances come dark warnings and dubious word play about "rigour" and "austerity". Les Echos and Le Figaro say the budget shortfalls are so dire that the government will have to backtrack on its extravagant promises.
Just how bad is it? The budget shortfalls range from 6 to 10 billion euros this year, and are expected to reach up to 60 billion euros next year, according to La Croix.
Same story, darker tone in Les Echos, which says France is condemned to implement unprecedented austerity measures. It will have to reconcile extravagant campaign promises with the cold reality of budget restraints.
Le Figaro, too, warns that the government will have to renege on campaign promises made just a few months ago, including the 60,000 teachers and support staff that Francois Hollande had planned to hire.