ECB Faces Pressure as French Bond Yields Surge to Pre-Crisis Levels

The European Central Bank (ECB) is facing pressure to act as French bond yields surge to their highest levels since the European debt crisis.

With the premium investors charge to hold French securities over equivalent German bunds at its highest, speculation is mounting on how far turmoil would need to intensify before the ECB steps in with its unused firefighting tool.

The ECB's nightmare scenario seems closer to reality as France grapples with growing global and domestic pressures on its finances.