Europe's debts escalate: Will financial burdens fuel the expansion of popular protests?

The debt burden on European economies is increasing amid rising borrowing, defense, and energy costs, and slowing growth, putting pressure on social spending and threatening to expand popular protests. French public debt reached about 119% of GDP (3.6 trillion euros) by the end of the second quarter of 2026, and pressures are extending to other countries.

The debt burden on European economies is increasing amid rising borrowing, defense, and energy costs, and slowing growth, putting pressure on social spending and threatening to expand popular protests in several countries of the continent. French public debt reached about 119% of GDP by the end of the second quarter of 2026, equivalent to approximately 3.6 trillion euros. Pressures are extending to other countries beyond France and Italy. This comes amid rising defense and energy costs, and the repercussions of the US-Israeli war on Iran since last February, which has negatively affected navigation in the strategic Strait of Hormuz for global energy and commodity supplies. This situation threatens to reduce spending on social sectors and increase living pressures, portending an escalation and expansion of popular protests witnessed in countries including France, Portugal, Belgium, and Spain.