For Macron, the stakes are high as he doesn’t want to damage the credibility he needs to push for reforms in Europe. The European Commission has already said his existing budget is at risk of non-compliance with EU rules.
According to Marc Touati, economist and president of business consultancy ACDEFI, Macron may be forced to take a more radical approach, even if that means the deficit slipping a bit. -Bloomberg
The protests have crippled revenues across the country, with some large supermarkets seeing drops as much as 25 percent. Hotel bookings have suffered a similar fate.