The announcements made Thursday evening by Emmanuel Macron to stem the spread of the coronavirus and limit its impact on the economy could well worsen the public deficit. A risk fully assumed: faced with this unprecedented situation, the executive ensures that it has no budgetary constraints.

Reinforcement of partial unemployment, state compensation for employees who stay at home, tax and social security freeze ... Emmanuel Macron made a series of strong announcements Thursday evening, in particular with the aim of limiting the economic impact of the crisis of coronavirus on the French. However, these announcements are likely to be expensive, and could even threaten the public deficit. But the President of the Republic intends to show that he is ready to get rid of budgetary constraints in order to be able to put substantial resources on the table.

"We don't calculate when it comes to people's lives"

"Whatever it costs". This is the new mantra of the Head of State. Emmanuel Macron used this expression three times during his televised address Thursday. The executive intends to show that it is preparing to leave the checkbook without reluctance. "We do not calculate when it comes to people's lives," we sweep in the entourage of the Prime Minister. "We change the world, therefore the grammar," we add.

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"Go fast and don't quibble"

To better manage this crisis, the executive wants to have a free hand, and forget the shackles of 3% that Europeans have imposed. There are emergency measures: companies will be able to postpone without justification, without formality and without penalty, the payment of contributions and taxes due in March. To this will be added an exceptional mechanism of partial unemployment for the benefit of employees who could no longer go to work. Emmanuel Macron says he wants to draw inspiration from the German model, which is more generous in this type of situation.

These measures could amount to several hundred million euros. The goal is clear: avoid bankruptcy and layoffs in the most affected sectors, such as tourism or catering. The government is however aware that these announcements will not be enough, the Head of State therefore calls for a major recovery plan at French and European level. "You have to find a coherent scheme, go quickly and do not quibble," argues the ranks of the executive.

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