France hit by eurozone storm

Italy's debt costs may be horrendous, but France's debt costs are also on the up. It's not so much the actual price of the debt that matters but the 'spread'. That is, how much distance investors in German debt - considered safe, given the solidity of its economy - will pay compared to investors in French debt.

Yesterday German yields slipped to under 1.8%. But French yields rose to 3.48% on 10-year bonds.