France Strike: Tens of Thousands Protest Against Saving Plans
In the heart of Europe, France has been witnessing a wave of protests against potential austerity measures, with hundreds of thousands of people taking to the streets. The latest demonstrations, which occurred on a recent day, were a response to the austerity plans of the now-retracted government, deemed brutal by trade unions.
The budget deficit in France currently stands at 5.8 percent, and state spending is among the highest in Europe, leading to concerns about the country's financial health. The EU has already opened a deficit procedure against France in July 2024, highlighting the urgency of addressing the fiscal situation.
The day began with blockades in various parts of the country, including at bus depots, transport axes, and further education schools. As the day progressed, teachers were absent from schools, causing disruptions and delays in buses and trains. Many businesses, such as pharmacies, experienced closures due to the strike.
The interior ministry estimated around 500,000 participants in demonstrations nationwide, but the CGT union claimed more than a million demonstrators participated. Authorities initially estimated around 700,000 to 800,000 participants.
Dozens of demonstrators briefly entered the courtyard of the Ministry of the Economy, adding a tense atmosphere to the protests. By the end of the day, 309 people were arrested nationwide, and 134 were in police custody.
The new Prime Minister, Sébastien Lecornu, announced he would not implement the previously proposed austerity plan. He stated that the demands raised by trade union representatives during the protests would be the focus of the talks he has initiated.
The unions have presented demands to Prime Minister Lecornu, including rejecting controversial austerity measures such as doubling co-payments for doctor visits, cutting 3,000 public sector jobs, and eliminating two public holidays. They call for a fairer taxation policy, reversal of pension and labor reforms, less austerity, and implementation of a wealth tax instead. Lecornu must respond by September 24 or face renewed large protests and strikes across France.
Sébastien Lecornu is currently consulting on a new austerity budget, details of which are not yet known. He has stated that the talks with trade unions will be crucial in shaping the future financial direction of France.
In absolute terms, France has the highest debt pile in the Eurozone, at around 3.3 trillion euros. The country has the third-highest debt-to-GDP ratio in the EU at 114 percent. The ongoing protests and the government's response to them will undoubtedly have significant implications for France's economic future.
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