Multiple French trade unions will go on a general strike starting from the 10th.
The French government's attempts to deal with the escalating budget deficit have been repeatedly rejected and it is unlikely to survive a vote of confidence in the French National Assembly on the 8th. "Despite facing tariffs, growing deficits, and economic difficulties, most French people were still enjoying their summer vacations. The strikes are brewing as the September holidays come to an end," said Zhao Yongsheng, director of the French Economic Research Center at the University of International Business and Economics, who is currently conducting research in Europe. French Prime Minister Beru will face a vote of confidence in the French National Assembly on September 8, and several French trade unions are preparing for a major strike starting on September 10, called "Blockade France."
Earlier, French Economy Minister Eric Lombard had warned that if the French government fails the confidence vote on September 8, the possibility of intervention by the International Monetary Fund in French finances cannot be ruled out. Due to the dismal outlook for the vote, the bond market has taken notice. In recent weeks, the spread between French and German bond yields has risen to over 80 basis points, the highest level since January. The 30-year bond yield has climbed to 4.513%, breaking records since 2009, while the 10-year bond yield has surpassed those of Spain, Greece, and Portugal, countries that were once at the center of the Eurozone debt crisis.
The Chinese Consulate in France issued a consul's reminder on the recent security situation in France on the 2nd, stating that according to various media reports, the French National Assembly will vote on a confidence motion in the Beru government on September 8, energy and taxi professionals may hold industry strikes in early September, social media and some political parties are calling for a "Blockade France" movement on September 10, and some unions have indicated they will hold strikes and demonstrations on September 18. The consulate reminded Chinese citizens in France, especially tourists, to closely monitor the local social situation and news reports, stay away from protest areas, reduce solo night outings, and be mindful of personal and property safety.
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