In addition to going through a serious health crisis, France must manage the serious economic crisis that is coming because of the confinement. Many companies find themselves in danger and the State must fly to their aid, starting with those which make the reputation of the country in the world.
The economic crisis caused by the virus will be worse than that of 1929, according to Bercy. And the state is getting ready to save the flagships of our industry.
A single figure is enough to pinpoint the extent of the damage: the automobile industry lost in two weeks almost 90% of its turnover. Almost all production lines, with manufacturers and their sub-contractors, are shut down. Almost 200,000 jobs are directly affected in this industry. It is obvious that under these conditions, no company can last very long. And we see this kind of situation in many other areas. It is therefore a gigantic plan to save our industrial heritage which will have to be implemented.
A list of companies that will need to be supported is even already ready.
Yes, at the request of the President of the Republic. No question of seeing French industrial sectors that have been formed over several decades disappear suddenly. We know the sectors most immediately affected: air transport with Air France-KLM , tourism with Accor , and the automobile of course. However, numerous mid-size companies are also threatened. The Germans have planned an envelope of 100 billion euros to save their flagships and nationalize them if necessary. France is ready to do the same as a last resort, but above all to intervene in the form of loans and state guarantees. Finally, the State is already working on this: a major recovery plan because once the main hurricane has passed, this industrial heritage will have to be put back on its feet. After confinement, convalescence will be very long.