Protests in France: Hundreds of Thousands Demonstrate Against Saving Schemes
France has seen widespread protests against potential austerity measures, with hundreds of thousands of people taking to the streets across the country. The demonstrations put pressure on the new Prime Minister, Sébastien Lecornu, who was appointed earlier this month.
Lecornu, the former Defense Minister and a close ally of President Emmanuel Macron, announced that he will not implement the previous government's austerity plan. He is currently considering measures to realign austerity budget policies amid political challenges and the need for parliamentary consensus.
The protests, which were organised by a broad trade union alliance, were sparked by the perceived harshness of the previous government's austerity plans. Many businesses and services were affected, including pharmacies, schools, buses, and trains. The interior ministry estimated that around 500,000 people participated in nationwide demonstrations, although the CGT union claimed over a million demonstrators took part.
Numerous blockades were reported in various parts of the country, and dozens of demonstrators entered the courtyard of the Ministry of the Economy. By the evening, 309 people were arrested nationwide, with 134 in police custody.
The proposal to abolish two public holidays was particularly criticised by trade unions. Lecornu, however, stated that he will focus on the demands of trade union representatives raised during the protests in his talks on a new austerity budget. He will meet with trade unions again in the coming days.
France's high spending levels have been a long-standing issue. The country has the highest debt pile in the eurozone, with around €3.3 trillion, and the third-highest debt-to-GDP ratio in the EU at 114%, after Greece and Italy. In absolute terms, this means that France has a larger debt than any other EU country except Germany.
The EU has already opened a deficit procedure against France in July 2024, due to concerns over the country's fiscal policies. The deficit in France was last at 5.8%.
As the new Prime Minister navigates these challenges, it remains to be seen how he will balance the need for fiscal responsibility with the demands of the French people.
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