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7 hours agoProtests cost French government up to 10 billion euros
Periskopi(8 years ago)
(8 years ago)The wave of protests in France and the violence that has accompanied them over the past four weeks has already had its cost to the second largest Eurozone economy. Road blocks, demonstrations, and riots in Paris and other cities in the country have left the shelves of many supermarkets [...]
The wave of protests in France and the violence that has accompanied them over the past four weeks has already had its cost to the second largest Eurozone economy.
Road blocks, demonstrations, and riots in Paris and other cities in the country have left the shelves of many empty supermarkets, prevented purchases, and scared tourists.
According to Finance Minister Bruno Le Muire, the situation created by protests that have brought hundreds of arrests, 1,400 injured and 5 deaths from related accidents, will cost 0.1 percent of France's economic growth for the last quarter of 2018.
The cost of one of the country's most acute crises in more than a decade is thought to reach 10 billion euros, including the 6 billion euros of new measures promised by Emmanuel Macron to alleviate popular anger, as well as the estimated losses to 3.9 billion euros from the failure to raise the tax on fossil fuels.
For buyers, this has been a difficult time, because the flow of yellow vests across the street has forced many stores and shopping malls to close, so part of them, the year's presents have chosen to buy “line”, follows the TCH.
The Trade and Distribution Federation, an industrial group that represents many of the country's major chain stores, estimates that retailers have suffered more than a billion euros in losses from the created situation, and more hit by it have been the toys, clothing and food sectors.
