19/11/24View in Browser

Brace yourself: Macron faces a dark economic winter

By Laurent Geslin

 

 

Certain phrases become emblematic of an era—or, at the very least, of a political career.

On 16 September 2018, in the gardens of the Élysée Palace, President Emmanuel Macron famously told an unemployed man that all he had to do was "cross the street" to find a job. The remark sparked widespread criticism, becoming for many a symbol of elitist disconnect and arrogance.

A few weeks later, on 17 November 2018, exactly six years ago, protesters clad in yellow vests gathered to oppose a fuel tax. The movement quickly evolved into a broader demand for social justice and better wealth redistribution.

The Yellow Vest protests would persist for months before losing steam. Yet Macron's proactive economic policies seemed, at least on paper, to yield results, even as his government faced electoral defeats.

Three days after dissolving the National Assembly on 9 June 2024, following his party's crushing defeat in the European elections, Macron noted in a press conference launching the legislative campaign that his policies had “created more than two million jobs over the past seven years.”

Months earlier, on 11 December 2023, during a speech marking the second anniversary of the France 2030 industrial revival plan, the president highlighted a reduction in unemployment, stating it had dropped “from 9% to 7% while most of our European neighbours have stagnated or maintained their 2017 levels.”

Macron has consistently reiterated his mantra: his primary objective is the “creation of activity.”

Continue reading...
Image of the day
EU countries will have spent a total of €326 billion on defence in 2024, the EU Defence Agency said on Wednesday (19 November), a record high.
Today's edition is powered by the Primary Food Processors.
PFP – Primary Food Processors.

We provide critical ingredients to the food industry and the consumers, while contributing to the EU bioeconomy. 
What we need are policies that nurture the sustainable transition of the agri-food sector. And an enabling food and trade policy regulatory environment.

Find out more.
 
Would you like to sponsor The Brief? Contact us
The Roundup

The battle between farming unions fuels French Mercosur protests. While opposition to the trade deal is unanimous, the division on the streets has never been so marked.

EU foreign ministers reject Josep Borrell’s swansong plan to end Israel talks. Members considered it was better to continue having a diplomatic relationship with Israel, said the departing foreign affairs chief.

Defence spending by EU countries reaches a record €326 billion, 1.9% of GDP. Almost all EU countries have increased defence spending this year.

Defence industry turnover rises 17% but seeks more orders and funding to sustain production. But today, with its fragmentation, it is not competitive for taxpayers’ money,

EU court: member states cannot stop EU immigrants from joining political parties. The court said laws in Poland and Czechia infringed the rights of EU citizens.

Spain’s Vox urges Weber’s EPP to torpedo the Spanish Commissioner pick Ribera. Vox said that if she is voted in, the EPP will be irrelevant.

EU entry-exit system faces another delay. The system was expected to be operational earlier this month, but it was postponed for the third time.

EU wants €32 million retaliation for US tariffs on Spanish olives. Washington imposed anti-dumping duties in 2018, claiming that subsidies from CAP are unfair.

 

Look out for
  • The UN Climate Change Conference COP29 continues in Baku, Azerbaijan.
  • The European Committee of the Regions holds its 163rd Plenary Session in Brussels, Belgium.
  • European Commissioner Didier Reynders opens the IAPP annual conference, in Brussels, Belgium.
  • European Commissioner Stella Kyriakides delivers a keynote speech on Europe’s Beating Cancer Plan and takes part in a debate at European Cancer Summit.
  • Commissioner Nicolas Schmit participates in an S&D Group Workshop on "Social Progress in Action - Monitoring Fair Minimum Wages for Workers in Europe," in Brussels, Belgium.<
  • Schmit will also participate in a debate on labour market and social policy challenges and solutions organised by the German Federal Employment Agency.
  • European Commissioner Wopke Hoekstra is in Baku, Azerbaijan, meeting with Deputy Minister of Energy of Ukraine, Svitlana Grynchuk and Deputy Minister of Environmental Protection and Natural Resources of Ukraine for European Integration, Olga Yukhymchuk.
  • He will also meet the Dutch Minister for the Environment and Public Transport, Chris Jansen.
  • EU foreign policy chief Josep Borrell is visiting Jordan.
 
[Edited by Rajnish Singh/Alice Taylor-Braçe]
Twitter
Instagram
Facebook
Website
LinkedIn
Spotify
Copyright © 2024 Euractiv Media BV, All rights reserved.
You are receiving this email because you subscribed to receive email newsletters from Euractiv.

Our mailing address is:
Euractiv Media BV
Karel de Grotelaan 1
Brussels 1041
Belgium

Add us to your address book


Want to change how you receive these emails?
You can update your preferences or unsubscribe from ALL emails from us.