French borrowing costs spike amid political turbulence

Another looming political crisis is battering France’s reputation on global markets. Borrowing costs spiked as investors looked to a possible vote of no confidence over the government’s budget proposal. That led the spread between French and German bond yields to hit its highest level since 2012. Also in the show – Ursula von der Leyen vows to increase the EU’s defence spending, as Russia ramps up its own defence budget.