France is running a 5.5% budget deficit, with 110% debt to GDP - nearly double the debt and deficits of Germany, yet borrowing at just 70 basis points over Germany's borrowing rate.
Piling on another massive tranche of debt, should raise the borrowing rates of both, which makes servicing debt in the fiscally fragile parts of the euro zone, like France, more and more difficult. And that dynamic should only increase the spread between French and German borrowing rates (which means, ever increasing borrowing rates on French government debt).
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