as a French person, I see the debt ratio going hockey stick and start to worry about any investments I have beside Bitcoin. Only 2 ways out for France, hyperinflation to flush the debt and austerity. In both case Bitcoin appears like a life boat. My base case is that they will end doing both. Europe is really following the lead of Argentina. and we'll get there faster than anyone think. That will end in a "I want my pension from the state , I'm now poor, I hate the rich" widespread mentality. Populist leader will thrive in such environments as people fear governments will stop feeding them ramens.