France Gripped by Worst Unrest in Years Over Austerity Budget
Hundreds of thousands of protesters took to French streets over the government's €54 billion austerity budget, with riots resulting in nearly 2,400 arrests, hundreds of injured police officers, and hundreds of millions of euros in business losses.
France was rocked by its worst civil unrest in years as the government of Prime Minister Sébastien Lecornu pressed ahead with a €54 billion ($61 billion) package of fiscal savings in its 2027 budget. On Saturday, 550,000 people demonstrated nationwide — 110,000 in Paris alone — with protests that began as student walkouts over education reform quickly swelling into broader anger about rising living costs, failing public services and record national debt. Violence broke out in multiple cities, resulting in nearly 2,400 arrests, around 1,000 police officers and gendarmes injured, shops looted and businesses damaged across Paris and other urban centres. France's national debt has ballooned to €3.6 trillion, reaching 119% of GDP in the second quarter, and the government faces a critical budget vote on Tuesday. Analysts warned that France is 'on the brink' as bond yield spreads widened and business losses from the riots ran to hundreds of millions of euros. The unrest dramatically deepened pressure on the minority government and rattled financial markets already sensitive to European fiscal risks.
