France pays 172bp over Germany. Who steps in? | Healey's ‘puffins’, $117 oil and the Budget
France's 10-year borrowing costs closed 172 basis points above Germany's this week, the widest gap since the euro crisis, and the ECB has yet to say where it would step in. Marcus Ashworth and Michael Brown join Damian Pudner, Director of the Great British Think Tank, to ask who backstops France, why oil is above $117 when more crude is flowing, and whether a Bank of England rate rise is coming on 5 November. Then Budget week: John Healey's first Budget on Wednesday, reports that £20bn could go through the British Business Bank and the National Wealth Fund (the public financial institutions…
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