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RE: LeoThread 2024-12-08 08:18

in LeoFinance24 days ago

Part 6/10:

As Macron navigated his presidency, the anticipated economic stability started to crumble. The COVID-19 pandemic exacerbated existing economic issues, causing the public deficit to swell from 2.54% to an overwhelming 8.99%. This spike—unprecedented for France—sparked concern among economists, leading to warnings that reforms and budgets would not suffice to rein in the spiraling deficit.

Despite his administration’s attempts at tightening public spending—through increasing retirement ages and modifying established benefits—these measures have struggled to garner the necessary support. The resultant discontent culminated in failed budget proposals, forcing Macron to dissolve the National Assembly and call for early elections in what some termed a desperate measure to regain control.