PM: France never had such significant public debt in its entire history

France has never had such significant public debt in its entire history, the Prime Minister of the French Republic, François Bayrou said, Report informs.

"Never in its history has France had such a large debt. The debt hangs over France like a sword of Damocles," he said.

The prime minister pointed out that the steady increase in debt occurred under each of France's modern presidents.

France's public debt reached €3.3 trillion, which is 113.7% of GDP. This figure was about €1 trillion in 2003.

Bayrou admitted that the lack of funding affects all spheres of life, including education, healthcare, culture, and assistance to France's overseas territories.