By



French Finance Minister Describes ‘Yellow Vest’ Protests As Catastrophe To Economy

By Mod - [ Update Channels tv]



man with a sign reading “Macron resign” waves a French flag as “yellow vests” (Gilets jaunes) protestors gather to protest against rising oil prices and living costs at the highway’s toll of La Barque, on December 9, 2018, near Marseille, southern France.  SYLVAIN THOMAS / AFP
The Bank of France on Monday slashed its fourth-quarter growth forecast in half, to 0.2 percent from 0.4 percent, citing the impact of the “yellow vest” protests which have rocked the country.

“Services activity has slowed under the impact of the movement. Transport, the restaurant and auto repair sectors have gone backward,” the French central bank said in its latest company survey.

Finance Minister Bruno Le Maire had warned Sunday that the protests sweeping France were a “catastrophe.”

“It’s a catastrophe for commerce, it’s a catastrophe for our economy,” Le Maire told reporters as he visited shops in Paris hit by looting during anti-government riots a day earlier.

The Bank of France’s latest estimate for the three months to December is well short of the 0.8 percent that would be needed to meet the government’s 2018 growth target of 1.7 percent.

The French economy expanded 0.4 percent in the third quarter and 0.2 percent in both the first and second, according to official statistics.

Le Maire, speaking earlier on RTL, said he expected the protests to cut fourth-quarter growth by 0.1 percentage point but refused to comment on a possible downward revision of the full-year 1.7 percent figure.

“I am not going to revise the figures for the moment but we will certainly have 0.1 percentage point less growth at the end of this year,” he said.

“That cannot be made up. That is the reality — for commerce, small business owners who have seen their shops damaged, vandalized, looted,” Le Maire said.

“That is also the reality for the foreign investors who are looking at us… I see already the impact that has abroad and it is not good for (image) of our country,” he added.

AFP

Source:

https://samueljackson12.blogspot.com/2018/12/french-finance-minister-describes.htm

Comments

Post a Comment

Popular posts from this blog

Prostitution; Nigerian Women At Growing Risk From Human Traffickers In Germany.

By
Image
According to InfoMigrants, Nigerian women are at growing risk from traffickers in Germany who exploit and engage them in prostitution. Read the full report below by InfoMigrants. The new prostitute protection law in Germany was meant to identify victims of human trafficking – most of them migrant women. More than 18 months after the law came into effect, thousands continue to be targeted for exploitation, and the risk for Nigerian women seems to be increasing. There are campervans parked by the roadside. Some have hearts painted on them, one says “girls, girls” in red letters. It’s an easy matter for someone to stop for a quick transaction in one of these Love-Mobiles – sex with one of the “girls” in exchange for the going rate. Prostitution is mainly legal in Germany, as are these mobile brothels. But many of the women in the business – including those working from the Love-Mobiles – are victims of illegal human trafficking. Most of the women are from Eastern Europe or Nige...
Read more

FULL TEXT: A sacrifice for our new political order – Ezekwesili

By
Image
“When the ACPN leadership approached me in a series of visits to appeal that I run for office on their platform, the party appeared to be a good fit. It was founded by some disgruntled PDP members some years ago, but when its prime founder decided to return to the PDP, a core of its membership refused to move back with him. I was told that they stayed back because of their opposition to the ways of the PDP. Considering my vocal disapproval of the PDP and the APC, I admired the ACPN’s decision to stand firm and refusal to be co-opted.” It has been an interesting one week since I made the tough but necessary decision to suspend my campaign for the presidency. I have been truly overwhelmed by the reactions to my announcement from Nigerians. Even in airports outside the country as I travelled last week, Nigerians walked up to me with questions, concerns, encouragement, and motivation. I also saw disappointment by some who had poured their hearts and hopes into actualising our mission ...
Read more

Update On Slay Queen Who Was Stripped Naked And Tortured Over Missing Phone.

By
Image
The League of Patriotic Lawyers has given Edo State Commissioner of Police, Mr. Olusegun Odumosu, 24 hours to unravel those behind the torture and insertion of pepper into a girl’s private part in Benin City over alleged stealing of a mobile phone.  Chairman of the platform and former Student Union President of the University of Benin, Mr. Abubakar Yesufu, who said this in a statement yesterday, also urged the state Director, Department of State Services, DSS, to be involved in the investigation. A video of the incident, seen by Vanguard yesterday, showed the girl being stripped naked by a group of people, who inserted pepper into her private parts for allegedly stealing a phone. The unidentified girl was heard crying and saying she didn’t steal any phone, while she was being humiliated by the crowd. Yesufu said: “The League of Patriotic Lawyers has given the Edo State Commissioner of Police 24 hours to arrest and commence prosecution of all the street urchins behind thi...
Read more