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- May 22, 2026
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What the hell is going on in France?France is falling in the European Union's wealth rankings and risks acquiring "third world" status, a former civil servant has warned. Once among the richest nations in Europe, France has plummeted to the second tier after registering three consecutive years of per capita wealth below the bloc's average of 100, according to Eurostat data. The country is far behind Germany, its former economic counterpart, with a per capita wealth of 111, and even the United Kingdom, with 99 and 98 respectively. Italy, which was 10.1% poorer than France in 2020, has also caught up with its economic rival, with a GDP per capita of US$59,453 (ยฃ43,413) in Italy and US$59,683 (ยฃ43,581) in France in 2024. Nicolas Baverez, a former high-ranking civil servant, warned that his country had entered a "hellish spiral," dubbing it the "Argentina of Europe" in an article for Le Figaro, alluding to the South American nation's long-term economic instability. https://www.express.co.uk/news/world/2165935/panic-france-economy-spirals-third-world-status





