French governenment announces new growth package, but will it stop the uprising?
- 4 weeks ago
Bank of France Governor, Francois Villeroy de Galhau has announced a new package which he sees as a step in the right direction to resolving the current social instability and increase growth.
Additionally, it may very well be an antidote for the ongoing “yellow vest” protests which have forces a considerable amount of Parisian shops and restaurants to close up in fear of further acts of violence.
The package is worth the sum of €10 billion and it may contribute to a further 0.1 to 0.2 points to growth for the country.
It has all come at a point where France’s President Emmanuel Macron has been under intense pressure to quell the social uprising against his government, having already raised wages in December for the less wealthy workers and announced tax-cuts for pensioners.
However, it is yet to be seen whether it will be sufficient to finally bring some normality in everyday French life.
Source: Smart Trend Team