Britain, France, and Germany are facing economic challenges with high debt and sluggish growth, impacting their fiscal budgets for the coming year.
The French government revealed austerity plans this month to combat a "colossal" debt burden, aiming to save about 60 billion euros next year.
Germany narrowly avoided recession but is seeing anemic growth, resulting in necessary budget cuts as the country adapts to economic realities.
The U.S. economy is recovering more robustly than Europe, with real GDP rising 10.7% since the pandemic, compared to significantly lower figures in France, Britain, and Germany.
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