Why France is protesting: The reasons and background include the following:
1. Debt stands at 119% of GDP, similar to Greece’s level during the 2009 crisis.
2. Deficit spending is nearly 6% of GDP, higher than Italy’s during the 2011 crisis.
3. The poverty rate has reached a record 15.4%.
4. Inflation has persisted, worsened by the war in Ukraine, and is now accelerating because of the war in Iran.
5. Interest rates have surged because of the war in Iran, and France now pays more than Greece.
6. Public assets are being privatized.
7. Public services and infrastructure are crumbling.
8. Public schools are in poor condition and lack teachers.
9. Corruption, cronyism, and self-dealing among elites.
10. Special tax arrangements benefit elites and megacorporations that invest abroad.
11. Living costs are rising while wages remain low and stagnant (median: €2k).
12. The loss of African territories and exploitation schemes.
13. Police brutality and the repression of protests.
14. Comedians and journalists are censored.
The contributing factors are as follows:
1. Quality of life in France is deteriorating as elites loot the country and become increasingly overtly corrupt and repressive, while the public becomes more aware of how dire the situation is.
2. Macron’s disapproval rate is now 82%.
3. The wars in Ukraine and Iran are the last straws, driving up both inflation and interest rates on debt.
4. Europe simply cannot survive two wars.
Source: Prof. Maheswar Satpathy
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