Protests Erupt Across France Against Austerity, Spending Cuts

Various protests have erupted across the country of France after several major spending cuts that were implemented to reduce the country's budget deficit.

French President Emmanuel Macron has faced some tough times lately. Over the past year, his prime minister has been ejected twice after two no-confidence votes, and his new PM, Sebastien Lecornu, is facing the same issues. However, France remains in a major financial crisis, and budget cuts are necessary to save the economy.

Austerity, a government measure that includes spending cuts and tax increases to recoup a budget deficit, has become crucial for France in recent years. France's current budget deficit stands at around €169 billion ($199 billion), which is a staggering 5.8% of their total GDP. By comparison, the limit imposed by the eurozone – the region of Europe that utilizes the euro as their currency – is just 3%.

Additionally, their national debt now stands at €3.35 trillion, which is around 116% of their GDP, making them one of the most indebted nations in the eurozone. Most of this is because of increased spending over the last five years, primarily because of the coronavirus pandemic and protecting the country from an energy crisis after the Russia-Ukraine War. However, some of it can also be attributed to increasing interest rates and several ill-timed tax cuts from Macron.

Now, the government is being pressured by investors and other EU nations to implement spending cuts to bring their deficit back down, but trade unions refuse to allow it. Labor unions like the French Democratic Confederation of Labor (CFDT) and General Confederation of Labor (CGT) have conducted nationwide strikes and protests against the government's upcoming austerity measures, which are still being finalized.

Because of this, France is now stuck an impasse. Labor unions desire major action like additional spending on public services and higher taxes for wealthy citizens, while the government needs to decrease spending and increase taxes in a widespread fashion in order to bring down their deficit. However, opposing political parties are also against Macron and his government– they continue to make his responsibilities harder and harder by ousting his prime minister, allowing the public to lose trust in his government.

When former Prime Minister Francis Bayrou attempted to solve this problem, he took a hardline approach and ignored unions, announcing a major plan that would reduce France's budget deficit by €44 billion. Several weeks later, the French Parliament voted him out in a no-confidence vote, claiming that he had not done enough for the country to escape its financial troubles.

Instead of letting that happen again, unions have gone on strike, covering roads and cities with protests, signs, and angry citizens. Both of France's largest trade unions, the CFDT and the CGT, announced strikes recently, and over 80,000 people protested across France against the austerity measures. This resulted in major road blockages, fires, and chaos within cities, forcing the government to deploy over 76,000 officers to deal with the masses.

Meanwhile, Lecornu is attempting to ramp up budget negotiations with his political opposition to try to secure a win in the French Parliament, but the future of him or any sort of new bill is still unknown.

Fact of the Day (The Fact Site): “Tsundoku” is a Japanese word for the habit of buying too many books, letting them pile up in your house, and never reading them.

Quote of the Day (Gracious Quotes): What you’re supposed to do when you don’t like a thing is change it. If you can’t change it, change the way you think about it. Don’t complain. (Maya Angelou)

Word of the Day (Merriam-Webster): Atone (verb, uh-TOHN) - To atone for something is to make amends for it—that is, to do something good as a way of showing that you are sorry about, or have remorse for, a mistake, bad behavior, etc.

In a Sentence: The novel opens with an act of cruelty and then traces the thoughts and actions of those responsible as they try to atone for it.

Image credit to Reuters