French debt held by non-residents

What it is. The share of the State’s debt held by foreign investors.

Why it matters. The higher this share, the more France depends on capital that can leave quickly in a crisis. Above 60%, it would be back to the dependence of 2008 to 2016.

How to read the chart. In blue, State debt, the one that counts in the index. In green, all public debt (State, local authorities, social security): it is lower because part of it is lent by French banks. Coloured backgrounds show the risk thresholds.

Who measures it, and when. The Banque de France for State debt, every quarter since 2008; Eurostat for all public debt, once a year.