Mostly peaceful protests across France, fueled by the worsening cost-of-living crisis and rising inequality, once again escalated into violence for the second weekend in a row. France’s Interior Ministry said 410,000 people took part in demonstrations in several major cities, including Paris.
After the historic town hall in Limoges was set on fire and supermarkets and luxury shops in Lyon were looted last weekend, French authorities had significantly increased security measures. In Paris, riot police used tear gas and water cannons to disperse a group of about 500 hooded youths, who threw stones at officers, according to Reuters.
In Marseille, young people blocked a road with sheet metal, set fire to rubbish bins and threw stones and bottles at police. Clashes continued after sunset, and police said looters broke into two jewelry shops. Clashes also broke out in Lyon, Bordeaux and Grenoble, while police fired tear gas at protesters in Clermont-Ferrand, Lille, Nantes and Nice.
However, the violence was less intense than a week earlier. These demonstrations began last month as a protest by high school students in the outskirts of Paris over poor school conditions, including the shortage of teachers and inadequate facilities. Since then, they have expanded and turned into nationwide protests.
France’s economic and political problems have significantly raised the cost of government borrowing. The yield on its 10-year bond rose above 5% for the first time since 2002 this week, stabilizing at around 5.03% on Friday. Some investors fear that the country’s debt problems could spread to the rest of the eurozone.
Source: CNBC