French towns struggle to repay FX loans

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Thousands of French towns are suffocating under huge debt burdens from loans they took in the global lending frenzy that led to the 2008 crisis.

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Thousands of French towns are suffocating under huge debt burdens as a result of loans they took out with Franco-Belgian bank Dexia in the global lending frenzy that prompted the 2008 crisis, French daily Libération reported on Wednesday.