This line of reasoning makes sense, but so far the evidence has been contradicting it completely... France is borrowing at the cheapest rates it ever has. See

This line of reasoning makes sense, but so far the evidence has been contradicting it completely... France is borrowing at the cheapest rates it ever has. See for instance: http://www.reuters.com/article/2013/04/30/markets-bonds-idUSL6N0DH3QD20130430 http://www.reuters.com/article/2013/04/30/markets-bonds-idUS...