Economics
Future of ‘Macronomics’ Tested by Violence on French Streets
- Macron has offered tax cuts to calm ‘Yellow Vests’ movement
- But reversals threaten his grand plan and the budget deficit
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Emmanuel Macron’s attempt to revive the French economy from a decades-long slumber is fraying at the edges after less than two years of trying.
“Macronomics” promised to loosen labor rules and encourage risk taking and investment, rather than stifling activity with extra restrictions and tax on capital. Insiders would lose their privileges; there would be a renaissance of social and economic mobility.