Article Written On 12/4/2018
French President Emmanuel Macron may institute emergency tax cuts in an attempt to stem violent protests which have gripped France for three weeks.
The government is increasingly worried that the economy, alongside its own political fortunes, is threatened by demonstrations against Macron’s globalist politic. Welcoming massive waves of migrants in the country, the overall rise of taxes and fuel taxes and the fact that the average citizen in France has hardly enough money at the end of the month with a regular job to pay his taxes, feed himself and his familly or even enjoy a night at the theater or restaurant.
The French people have been struggling for way too long and now they finally made the choice to say NO to Globalist Macron, because enough is enough.
That’s why the people have spiraled into a push-back against Macron and are calling for him to resign.
Finance Minister Bruno Le Maire said the impact of the riots was “severe,” and left a meeting of finance ministers in Brussels to return to Paris for crisis talks with colleagues. –Bloomberg
“In order to make the tax cuts work, the French government will need to find ways to cut spending that doesn’t hobble growth, as well as tax measures that will stimulate the economy.
For Macron, the stakes are high as he doesn’t want to damage the credibility he needs to push for reforms in Europe. The European Commission has already said his existing budget is at risk of non-compliance with EU rules.
According to Marc Touati, economist and president of business consultancy ACDEFI, Macron may be forced to take a more radical approach, even if that means the deficit slipping a bit.” –Bloomberg
The protests have crippled revenues across the country, with some large supermarkets seeing drops as much as 25 percent. Hotel bookings have suffered a similar fate.
Whatever Macron has planned, he better act fast – as there are currently 15,000 angry French Yellow Vests signed up for next Saturday’s protests in Paris; three times as many as last weekend, while 104,000 are a “maybe.”
The elites have gone too far. The costs of the 2008 financial crash have been met by ordinary people, not the greedy bankers & financial spivs who caused it. The people have had enough of austerity & falling/stagnant wages. What’s happening in #France now is only the start.
— Neil Clark (@NeilClark66) December 3, 2018
— Pamela Anderson (@pamfoundation) December 3, 2018
— Steve Hanke (@steve_hanke) December 3, 2018
Leaders of the so-called “Yellow Vest” movement have rejected demands to negotiate with the French government after President Emmanuel Macron ordered his prime minister to hold discussions, according to AFP. Macron and top officials are now in full damage control mode amid the most violent protests France has seen since 1968.
Approximately 136,000 demonstrators donning yellow reflective vests were recorded across France on Saturday – of which approximately 5,500 protested in the French capital according to the interior ministry. The previous weekend saw 166,000 demonstrators, and 282,000 the week before that.
This is France right now. You’ve heard media rip Trump for having a mid 40’s approval rating yet they’ve celebrated Macron like he’s a beloved world leader when he has a 27% approval and his country is rioting. The media may love him but the people don’t. pic.twitter.com/xVqZNXlCQq
— Robby Starbuck (@robbystarbuck) December 3, 2018
According to the interior ministry, 412 people were arrested in during Saturday’s violent clashes in the French capital, while 263 people were injured. The worst hit areas were the wealthy west and central Paris, where stores were smashed and looted, dozens of cars were burnt, and police forces were overwhelmed by Yellow Vest protesters.
Amid the chaos, an 80-year-old woman was killed in Marseille when a police tear-gas canister was launched into her apartment window while she was trying to close the shutters. She was taken to a nearby hospital but died during an operation after suffering shock, according to a local media report. She has become the third casualty in the demonstrations which began three weeks ago.
On Monday, Macron held an urgent security meeting – after which ministers said that while “no options have been ruled out,” they had not discussed a state of emergency as had been previously reported.
Conservative leader Marine Le Pen who attended the meeting warned that Macron could become the first French president to order troops to open fire on his own people in 50 years, and that he should abandon his plan to raise taxes on fuel while lowering gas and electricity prices.
The demonstrations, meanwhile, have had a noted effect on business in the region.
Finance Minister Bruno Le Maire met with business representatives to assess the damage caused to businesses over the weekend.
“The impact is severe and ongoing,” Mr Le Maire told the AFP news agency.
Some retailers had seen sales drop by around 20-40% during the demonstrations, while some restaurants had lost 20-50% of their takings, he added. –BBC