France Witnesses Mass Strike: Many Thousands Protest Against Savings Schemes
France Faces Nationwide Protests Against Potential Austerity Measures
France has been rocked by widespread demonstrations as hundreds of thousands of people took to the streets to voice their opposition to potential austerity measures. The interior ministry reported around 500,000 participants in the nationwide protests, although initial estimates were as high as 800,000.
The protests, which caused disruptions in various sectors including pharmacies, schools, and public transportation, are a response to the new Head of Government, Sébastien Lecornu, who is currently consulting on a new austerity budget. The details about potential cuts are not yet known, but Sébastien Lecornu has stated that the demands of the trade union representatives, raised by the demonstrators, will be the focus of the talks he has initiated.
Sébastien Lecornu has also announced that he will not implement the previous government's austerity plan, which may offer some relief to protesters. However, it is important to note that France has the highest debt pile in the Eurozone, at around €3,300 billion, and the third-highest debt-to-GDP ratio in the EU, at 114%.
The broad trade union alliance had called for the work stoppage, considering the austerity plans to be brutal and harmful to workers, retirees, the sick, and people in precarious situations. One of the most criticized proposals was the plan to abolish two public holidays.
Dozens of demonstrators entered the courtyard of the Ministry of Economy, and nationwide, 309 people were arrested, and 134 were in police custody. The CGT union estimated over a million demonstrators in France.
The protests put pressure on Sébastien Lecornu to influence the new austerity budget. The EU has already opened a deficit procedure against France in July 2024, and it remains to be seen how the new government will address the country's financial challenges while appeasing the demands of the protesters.
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