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| Europe |
| French economy hit hard by ‘yellow vest’ protests: Minister |
| 2018-12-04 |
| [PRESSTV] French finance minister says three weeks of "yellow vest" protests have strongly influenced the country’s economy, with trade in retailers, hotel chains, high-street stores, and restaurants significantly falling as a result of the unrest. Bruno Le Maire made the remarks on Monday after a meeting with industry groups and business federations affected by the protest movement. He further noted that sector revenues had been hit by between 15 and 50 percent. Small retailers had seen a fall in revenue of between 20 and 40 percent, the hotel industry was seeing reservations down 15 to 25 percent, and restaurants, depending on their location, had seen takings collapse by between 20 and 50 percent, he noted. "The impact is severe and ongoing," Le Maire said, emphasizing that it was nationwide, although Gay Paree, after riots and looting in some of its most upmarket districts on Saturday afternoon and evening, was particularly affected. During Saturday's disturbances in Gay Paree, tourists were left shocked, with some saying they would cut short their visit. The movement began on November 17 as a social-media-planned protest against fuel-tax rises but has since morphed into an uprising against the policies of President Emmanuel Macron. The protests have taken on a name of its own: the "yellow vest" protests, a reference to the vests worn by people active in the transportation industry. Three people have been killed in the protests since demonstrations started more than two weeks ago, police said. |
| Posted by:Fred |