To cushion the economic shock caused by the coronavirus epidemic, France plans to “tens of billions” of euros, announced Bruno Le Maire, the Minister of the Economy, this Friday on BFMTV, the day after the measures announced by Emmanuel Macron.
"We will do whatever is necessary and even more," said Bruno Le Maire, saying that these measures would cost "tens of billions of euros".
Special measures for single women with children and caregivers
The Minister of Economy detailed several measures that will be taken to support businesses, in particular short-time working. "No employee will lose a penny" because of partial unemployment, he also promised. "It will probably be the most costly device for the State, but also the most efficient", because it allows companies not to lay off workers and to have all of their production capacities available as soon as the economic recovery takes hold. , he explained.
He recalled that companies could postpone the charges and taxes due to March 15: "As long as the crisis lasts, there will be postponement," he said. In what he presented as “a response strategy” to the crisis, Bruno Le Maire also mentioned “daily allowances for all single women who have to babysit” and “specific devices for caregivers "
Trump's decision "a health aberration"
Asked about the measures announced by President Donald Trump to close the American borders to travelers from Europe to fight against the coronavirus, the French minister "regretted" this decision which was "not coordinated with the allies and which causes a panic in the markets ”. "It is a health aberration and it is a shame because a health aberration causes political aberrations and causes economic chaos," he said, adding that he would express his position to his American counterpart Steven Mnuchin during a telephone interview during the day.
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"The message that all economic players receive perfectly is that there is no longer any coordination between Europe and the United States when it comes to strategic decisions," he deplored. "And it is unfortunate for all of us." Bruno Le Maire suddenly underlined the need for Europeans to "prepare a coordinated recovery plan (…) so that as soon as we are out of the crisis, the economic machine will restart as quickly as possible".
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