Arts and Humanities
4 years ago

French government still paying off debt from 1738, yielding €1.20/year.

RePEc: Research Papers in Economics
The case of the undying debt
François R. Velde

Paper Summary

The French government has been honoring a unique debt contract since 1738, paying out €1.20 per year. This debt serves as a symbolic summary of French public finances over the centuries.

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