Parents want lavish wedding?

My fiancè (29m) and I (29f) are getting married next year. We both want a small wedding with 40 close friends, but my fiancè's parents want a lavish wedding with 400 guests and expect us to pay for it. I already raised the fact that we won't be able to afford it (due to our financial circumstance) but they insist on us having a large wedding. The bigger issue is that they want us to pay for it.

Parents want lavish wedding?
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