French Interior Minister Retaillo said the country is on the brink of a financial abyss

"The situation is extremely serious. France has never been so close to the financial abyss," TASS quotes him as saying.

Retailleau noted that 54% of French public debt is in the hands of foreigners, and this is a question not only of the economy, but also of sovereignty.

Earlier, French Economy Minister Eric Lombard said that the political and economic crisis could force Paris to seek help from the International Monetary Fund for the first time in history.

This could happen, he said, against the backdrop of a sharp rise in government debt, political uncertainty and social upheaval.

This is Lombard's response to Prime Minister François Bayrou's plan to reduce the budget deficit, which includes a tax increase of 43.8 billion euros. The document will be submitted to the government for consideration on September 8.