Berlin | Oct. 20, 2026, 3:29 p.m. ET | 4 min read

The future of Europe is playing out on the streets of France.

France is overspending, crashing toward a debt crisis that could throw the euro and the European economy into disarray. Yet its cities are mired in chaos and flames as protesters decry the lack of government funding for education.

Similar scenes are playing out across the continent.

Protests against the cost of living brought out riot police in Milan and forced snap elections that could topple the government in Spain. Days after 46 German economists released a letter saying deep pension reforms are crucial to the survival of the system, tens of thousands of Germans nationwide rallied to protest those reforms.

Facing difficult choices on security, pensions, and social welfare spending, few European voters seem willing to make the sacrifices economists say are necessary. Some analysts blame voters themselves, saying they are unwilling or unable to see the larger picture.…