We Just Mentioned Guillotines On Friday…Carbon Taxes For “Climate Change” Upsets People

We Just Mentioned Guillotines On Friday…Carbon Taxes For “Climate Change” Upsets People

TDC Note – On Friday we penned Meanwhile In Macron’s France where we reminded people the French, while not the greatest at fighting in wars, they are not afraid to attack their own government. The boiling point seems to be at hand.

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French President Emmanuel Macron may institute emergency tax cuts in an attempt to stem violent protests which have gripped France for three weeks, according to Bloomberg.

The government is increasingly worried that the economy, alongside its own political fortunes, is threatened by demonstrations against fuel taxes that have spiraled into a push-back against Macron’s policies.

Finance Minister Bruno Le Maire said the impact of the riots was “severe,” and left a meeting of finance ministers in Brussels to return to Paris for crisis talks with colleagues. –Bloomberg

In order to make the tax cuts work, the French government will need to find ways to cut spending that doesn’t hobble growth, as well as tax measures that will stimulate the economy.

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.

Toll-road operators Vinci SA and Eiffage SA meanwhile have seen their share prices decline as they have opened toll booths to let cars pass freely.

Whatever Macron has planned, he better act fast – as there are currently 15,000 angry French Yellow Vests signed up for next Saturday’s protests in Paris; three times as many as last weekend, while 104,000 are a “maybe.”

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Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.