France's 2.147-trillion-euro debt is 'intolerable', says new PM

French Prime Minister Edouard Philippe is announcing plans to get rid of the French's habit of public spending.

This photo taken on February 1, 2016 shows Emmanuel Macron, right, shaking hands with Edouard Philippe. (File Photo | AFP)

PARIS: French Prime Minister Edouard Philippe told parliament Tuesday that the public debt, currently running at 2.147 trillion euros, was "intolerable".

"We are dancing on a volcano that is rumbling ever louder," Philippe told the newly elected National Assembly, announcing plans to wean the French off their "addiction to public spending".