Financial Crisis: Barnier Announces Measures to Prevent Economic Collapse
2024-10-04 13:27:55
Prime Minister Michel Barnier addressed the looming financial crisis, stating, “It is before us, we must prevent it.” To combat this impending disaster, his upcoming budget includes €60 billion in savings, including €40 billion in spending cuts and €20 billion in additional taxes.
During a visit to the Breeding Summit in Cournon-sur-Auvergne, Barnier emphasized the urgency of the situation, claiming, “This slowdown is fundamental, otherwise we are heading straight towards the financial crisis.” He expressed his determination to protect vulnerable populations, particularly savers, by managing public finances more efficiently.
The Prime Minister acknowledged the commendable efforts of local communities in responsibly managing public funds, recognizing this as a benefit to taxpayers. He reaffirmed his commitment to upholding previous government promises made to farmers, despite recent controversies.
Barnier elaborated on his plans to support farmers facing economic hardship caused by the decimation of their herds. He announced a €75 million grant specifically for sheep farmers affected by a new disease. Additionally, he promised state-guaranteed loans for struggling farms.
The emergency aid measures are intended to address a new serotype of bluetongue, which is not currently covered by existing compensation systems.