French sovereign debt stress is intensifying: the 10-year OAT-Bund spread has widened to 174 bps, while the 10-year French government bond yield has risen above 5.13%, driven by growing fiscal and political uncertainty. The main risk is a vicious cycle of higher interest rates, rising debt-servicing costs, and further market tensions.The ECB has several tools at its disposal, including communication measures, a potential halt to quantitative tightening, PEPP/APP reinvestments