Reassure business leaders, employees but also the markets. The President of the Republic was expected this Thursday and he replied: France will not count to protect businesses and employees, hit by the coronavirus crisis. While growth in 2020 promises to be at half mast, Emmanuel Macron also promises to embark on Europe in a vast recovery plan.
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While the announcement of the closure of schools will deeply disrupt businesses, the Head of State has advanced on "an exceptional and massive mechanism of unemployment" . The state will pay compensation to employees forced to stay at home, whatever the cost. "I want us to be able to preserve jobs and skills," he said. The State would compensate companies with such a minimum wage with this system, so this amount will be uncapped. “I want us to be able to protect our independents too. We will take all the necessary measures , ” added the head of state.
Companies who wish can also "postpone without justification, without formality, without penalty, the payment of contributions and taxes due in March" , detailed the president, ensuring that "we will then work on the rescheduling measures" . "We will defend our companies of all sizes, all workers," he insisted.
We Europeans will not let an economic and financial crisis spread
Emmanuel MacronEarlier on Thursday afternoon, Medef called for emergency measures to save companies hard hit by the coronavirus crisis as well as reforms to lower production costs in France after the crisis.
Judging the measures of the European Central Bank, also announced this Thursday, "not sufficient" , Emmanuel Macron promised the establishment of a national and European recovery plan. "We Europeans will not let an economic and financial crisis spread," he added, even if the discussions in Brussels in recent days have rather highlighted the difficulties of coordination.
We will answer "whatever it costs," assured the president, therefore relegating to later the questions of keeping public finances and debt. The measures announced and not quantified in terms of partial unemployment will indeed be very costly for public finances if the French economy suffers, which is very likely, a powerful setback.
