French Official Says Protests Are An 'Economic Catastrophe'

Published on 9 Dec 2018, 18:49
French President Emmanuel Macron is set to hold talks with business leaders and trade unions on Monday after a fourth weekend of protests. CNN reports Macron says he wants to "hear their voices, their proposals and with the aim of mobilizing them to act." The president is expected to make an address to the nation about national unity this week. Macron will urge the "yellow vest" protesters to seek dialogue after a weekend in which 1,220 were taken into custody. 135 people were reported wounded around the country. The protestors are opposing the rise of living costs and the scrapping of the "fortune tax." On Sunday, Finance Minister Bruno Le Maire claimed the the unrest was creating a "catastrophe" for the French economy. The country's retail sector has suffered a loss in revenue of approximately $1.1 billion since the beginning of the protests last month. Le Maire said, "It's a catastrophe for commerce, it's a catastrophe for our economy."

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