France is nearing a financial crisis. It's debt to GDP is now at 122%. France has launched budget cuts, which are enraging the radical left protesters and migrants into burning schools and attacking teachers. France’s debt pile is smaller than Greece’s, which was 143.5% of GDP, and Italy’s (138.9%). It’s also lower than the U.S.’s 122.6%. France, however, lacks the U.S. advantage of having the world’s reserve currency, which supports Washington’s ability to borrow.