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Image copyright AFP Image caption Would the French economy have been more competitive if it had kept the franc? But the French government's debt burden is fairly high, close to 100% of annual economic activity or GDP. That's a marked increase since the turn of the century when it was less than 60%. The IMF says that fiscal dynamics could easily derail, if for example economic growth is a lot weaker than expected. What it means by that is that the debt burden could rise quite rapidly if weak economic growth undermines tax revenue. Currency competitiveness Another feature of the French government finances is that the public sector is one of the largest. Public spending last year was 56.5% of GDP, the highest of any of the developed economies. The benefits include cheap flights to chicago high levels of public services, but does also mean French people and businesses pay a lot of tax. One of the defining features of French economic life this century has been the non stop flights to hawaii use of the euro as flights the country's currency. France has not been at the eye of the financial storms that raged in the early part of this decade, though the debt level and rather sluggish economic growth did make some commentators wonder whether that might have changed.