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UBS CEO warns: French debt crisis requires "tough measures," 10-year government bond yield reaches 4.7689%.
UBS CEO Sergio Ermotti said on Tuesday that France's worsening debt crisis requires "tough measures" to address, and "small, incremental changes" will not be enough to solve the massive debt problem. He compared the current turmoil in the European bond market to the 2011 Eurozone sovereign debt crisis, noting that France's large economy could make this problem more difficult to resolve. Currently, France's benchmark 10-year government bond yield has reached 4.7689%, higher than Greece and Italy, as investors grow increasingly concerned about its fiscal health.
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