Paris: France is bankrupt. In terms of the Maastricht criteria, French public debt is 97% of GDP, or roughly two trillion euros. But add to this, the off-balance-sheet debt (estimated at over three trillion euros) such as pensions (19 billion euros a year deficit), unemployment insurance (over five billion/year deficit), health care system (15 billion/year deficit) and other social guaranties supposed to finance themselves and the real debt of France is an astronomical 242% of GDP. Yet, labor in France refuses to hear of reform. Students, who have never worked a day in their lives, are marching with public service employees and fighting police in the streets.