I want to understand the context of an article (Economist, Finance and Economics section, Oct 28th, 2022)
Bruno Le Maire, France's finance minister:
"Money is no longer interest-free in the new financial landscape. Rates on French ten-year government bonds, negative 18 months ago, have risen to more than 2.5%, which leads to billions of euros of additional fiscal expenditure. If European governments fail to anticipate higher debt-servicing costs, an inflationary crisis can suddenly become a financial one. Recent turbulence in British bond markets demonstrates the impact of a rapid rate surge."
Why would government's failure to anticipate higher debt-serving costs (rates on ten-year gov bonds) create a financial crisis?