Protests in France: Multitudes Rally Against Government's Saving Measures
In recent days, France has been witnessing a wave of protests across the country, with blockades set up at bus depots, major roads, and high schools, causing widespread disruptions. These demonstrations are a reaction to potential austerity measures, as a broad coalition of trade unions called for the strike due to harsh austerity plans of the previous government.
The protests have resulted in numerous pharmacies being forced to close, teachers being absent from schools, and disruptions and delays in bus and train services. In the morning, dozens of protesters entered the courtyard of the Ministry of Economy, adding to the tension.
France's new Prime Minister, Sébastien Lecornu, has stated that he will not implement the plan to abolish two public holidays, which was particularly contentious. However, little is known yet about where the new head of government plans to cut spending. The budget for 2024, during Lecornu's discussions about a new austerity budget, was primarily designed to carry the country through the end of the year rather than to implement specific long-term austerity measures.
France's economic situation is a cause for concern, with state spending among the highest in Europe, and the deficit recently at 5.8%. The country also has the third-highest debt-to-GDP ratio in the EU at 114%. In absolute terms, France's debt of around €3.3 trillion is the highest in the Eurozone.
The EU launched a deficit procedure against France in July 2024, adding to the pressure on the new government to address the country's financial situation. Over 180 people were arrested nationwide, with around 30 of them in Paris, as the protests continued.
The protests in France are aimed at pressuring the new Prime Minister to reconsider any austerity measures that could impact the general public. As the situation continues to unfold, it remains to be seen how Lecornu will navigate these challenges and work towards a solution that balances the country's fiscal responsibilities with the needs of its citizens.
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