> “French CDS is currently trading at very wide levels for a Western European sovereign. CDS on Germany [and] the UK haven’t really moved. So the market is really focusing on France as the [main] point of weakness in the eurozone,” said Gavan Nolan, executive director at S&P.

Germany pays the most into the EU and the rising AFD party is saying those economics are not in Germans' best interest. One perspective is that EU countries like France need Germany more than the other way round.

Credit Default Swaps (not CDs.. which was probably the HN submission-title correction algo). Shame the article never specifies (although you can find the phrase in the text and the tags)