France is now suffering from its lack of strategy to reduce public spending

Everything seemed to be on the right track when Emmanuel Macron came to power in 2017. The aftermath of the 2008 financial crisis had almost disappeared, growth was gradually picking up, unemployment was falling, companies were in better shape.

The ingredients were thus gathered to finally tackle, at the start of the five-year term, the consolidation of public finances in France which has been adding up deficits for decades.

Even the most rigorous experts recognize that the president had started rather well in the matter, pointing to the freezing of the index point of civil servants, the decrease in assisted contracts or the discussions on the reform of the public service "CAP 22" and that retirements.

Beautiful intentions that only lasted a short time.

The dynamic was derailed when the movement of "yellow vests" broke out at the end of 2018. It was definitively broken with the coronavirus crisis which plunges public accounts into bright red.

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