Also, it has something to do with their bailouts as well. From what I've read, the Macron government loaned over 1 billion Euros to their banks to keep them solvent. Last year, they agreed to deduct 400 million from the remaining balance in exchange for a pledge to create 100,000 jobs. The banking corporations agreed, pocketed their discount, and didn't create new jobs. So the French taxpayer is footing the bill for that discount with no benefit.