In his first speech to parliament as the new Prime Minister of France, Michel Barnier did not hold back in addressing the pressing issue of the country’s growing debt. Describing it as “colossal” and likening it to the sword of Damocles, Barnier emphasized the urgent need for action to tackle the financial challenges facing the European Union’s second-largest economy.
Barnier’s warning comes amidst a backdrop of economic uncertainty and instability caused by the ongoing Covid-19 pandemic. With debts mounting and the economy struggling to recover, the new Prime Minister wasted no time in outlining his plans for belt-tightening and increased taxes to reverse the damaging trend.
The announcement of austerity measures and tax hikes may not be well-received by the public, but Barnier made it clear that tough decisions need to be made in order to secure the country’s financial future. It remains to be seen how these measures will be implemented and what impact they will have on the French economy and its citizens.
As France grapples with the economic fallout of the pandemic, Barnier’s speech serves as a sobering reminder of the challenges ahead. The country will need to navigate carefully through these turbulent times in order to safeguard its economic stability and ensure a prosperous future for all its citizens.
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Video “New French PM tells parliament the country’s ‘colossal’ debt is ‘sword of Damocles’ • FRANCE 24” was uploaded on 10/01/2024 to Youtube Channel FRANCE 24 English