French Southern Territories
1 articleThe French Southern Territories have no permanent population, locally issued currency or ordinary consumer payment market. Administrative and research operations may be denominated in euros through the French monetary framework, but the territory has no separate central bank, banknote series or retail circulation. Its entry is therefore about a French overseas administrative jurisdiction and limited operational use of external money, not an independent euro-area economy.
France pressed to pass 2027 budget as bond yields hit 25-year high
French government borrowing costs have jumped to their highest level since 2002. Euro zone finance ministers and the European Central Bank are urging France to approve its 2027 budget to calm markets and avoid wider fallout.