The 10-year yield on French government debt briefly reached 3.02 per cent in early trading on Thursday, crossing above the 3.01 per cent yield demanded by lenders to Greece, before switching back. The crossover reflects an upheaval in the perceived riskiness of Eurozone borrowers and underscores investors’ concern about France’s political and fiscal outlook at a time when Barnier ’s minority administration is struggling to push through €60bn of tax increases and spending cuts.

Thursday marks the beginning of a two-day state visit to France by Nigerian President Bola Tinubu, with both sides scenting economic rewards as Paris looks to build new ties in Africa after a series of setbacks.