France, Jan. 2 -- As a result of the parliament's failure to vote the 2026 budget, France's government was forced to invoke a special emergency budget law that rolls over the previous year's budget to keep the state funded when a new finance bill has not been adopted.

The same type of emergency legislation was used ahead of the 2025 budget,which was only finalised in February after being forced through parliament, a delay that cost the government €12 billion.

Bank of France governor Francois Villeroy de Galhau has cautioned that carrying over the 2025 framework into 2026 would lead to "a deficit far higher than desired" - a warning that temporary fixes risk worsening France's financial situation. Why €310 billion more?

Acco...