There is no serious talk on the IMF taking control of French public finances.

The spread between France OAT and German Bunds is less than 100bps.

The French annual budget deficit is lower than the projected US one.

So someone predicted Greece will default, because they had an abnormal amount of debt, and they did default (albeit in a controlled manner) after the 2008 crisis. And because of that you think Spain and Portugal will default?

No, and with absolute certainty not because of the second houses or public servants. That's armchair economy talk from someone that got one predictable thing right once.

Look at Michael Burry (the 2008 bubbly guy, whatever his name is). He keeps screaming "bubble" every once in a while, never got anything right again.

Let go.

> That economist explained how the EUR would lead to "too many secondary houses in Spain" and "too many public servants in France".

The part relating to France is the usual small-state BS that has thoroughly corrupted modern "economics". France's problem more is its power generation, they rely on nuclear power, a lot of their fleet is noticeably aged and desperately needs replacement, but such replacement is incredibly expensive. On top of that, French military expenditure is ridiculous, they still dream of being an empire, maintain nuclear weapons and aircraft carriers, that make sharing vessels or aircraft with other European countries a pain - as evidenced by FCAS collapsing, the French wanted to use us Germans as paypigs for their pet project suited to carrier deployments.