This debt scare seems to be a part of broad push for austerity. Government bonds interest and yields are mostly tied to their central bank reference rates. Those central banks are now usually staffed with dogmatic neoliberals that use the only tool they know to fight inflation - raising reference rates. That would solve an inflation caused by oversupply of money but not an energy supply shock which we’re now experiencing because you can’t make that disappear with monetary policy. The only measurable result that this has is that debt servicing becomes expensive, leading to cuts to public services. I’m cynical enough to think that’s not a coincidence. France produces things to sell abroad, like energy, they can afford to run schools.