France’s economic woes: Debt nears 122% of GDP, growth forecast at just 0.4%

France is facing mounting pressure on two fronts: growing public anger over the cost of living and an economy struggling with high debt, taxes and weak growth. Student protests that began with school blockades have spread, turning violent, putting the spotlight on the country’s economic troubles and deepening political tensions.The rising cost of living is one of the concerns behind the demonstrations, which began largely peacefully but disrupted schools before escalating into wider unrest and pockets of violence involving young people on Saturday. The issue is not unique to France, but it comes at a difficult time for the country’s economy.France is also struggling to bring its public finances under control. Carsten Brzeski, global chief of macro at ING bank, said “France is not Greece”, referring to the financial crisis that shook the European Union in 2009.