France to Guarantee $335 Billion of Bank Loans, Macron Says
- ‘We are at war,’ Macron repeated in an address to the nation
- Macron puts on hold his flagship but unpopular pension reform
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France will guarantee up to 300 billion euros ($335 billion) of bank loans to companies in an effort to bolster firms threatened by the impact of the coronavirus outbreak, President Emmanuel Macron said.
The government will also allow companies to delay paying their taxes and social security contributions and provide support to help them delay loan payments, Macron said in a televised address Monday. The president said he’s halting all reforms -- including his controversial pension reform -- to focus on tackling the coronavirus.