France’s economy in such a state it wants to scrap 2 bank holidays | World | News
France suggested that two public holidays be scrapped to reduce the growing debt, increase the economy and prevent financial collapse. The shocking proposal was made by Prime Minister François Bayrou on Tuesday, while summarizing the 2026 budget.
According to the Prime Minister, two dates are Monday and 8 May, when France commemorated the Victory Day and pointed to the end of the Second World War. However, he claimed that nothing was concluded and was open to other options. He said: “The whole nation needs to work harder to increase the activity of the country as a whole and thus to improve France. Everyone will have to contribute to the effort.”
The financial situation of France increases serious alarms because it hit 5.8 percent of GDP in 2024, and almost twice the 3 percent limit determined by EU rules. Not only that, the country’s debt reached an € € 3.3 trillion or 113 percent of GDP, which made it one of the highest in the euro zone.
Prime Minister, while sharing the steps will reduce the budget by 43.8 billion € and the deficit will reduce the deficit to 4.6 percent and 3 percent by 2029, he said.
He explained that the debt mountain is a “deadly danger” and “still dependent on public expenditures for a country on the“ cliff edge ”country.
Other steps include the blanket freezing in government expenditures, except for the debt repayment and defense budget, and President Emmanuel Macron called for € 3.5 billion and 2027 next year.
However, the proposal to scrape the bank holidays did not go well with a certain part of people who believe that there was a “direct attack on the history of France.
From the extreme right national rally (rn), the largest party in parliament, Bardan Bardella Guardian: “Canceling two holidays is a direct attack on our history, roots and employees to France. No RN deputy will not accept a measures that mean provocation.”
Jean-Luc Mélenchon of Radikal SOLFI, “Time to deport Bayrou” and olmayan finish this destruction, finish these injustices, ”he said.
Boris Vallaud, a socialist party deputy, described it as “a ruthless and unacceptable budget .. “It is neither serious, effective nor fair to ask more than those who are always very few and ask too little from those who are too much.”
