He declared “a state of social and economic emergency” and promised a 100 euro per month minimum wage hike and to deliver tax relief for the poor and to cancel a tax increase on retirees. He also encouraged employers “who can” to give bonuses at the end of the year and added elimination of tax on overtime. These were among a wide range of demands by the yellow vests protesters. In the four weeks since they started, the violent demonstrations have caused millions of euros in damages.
The French commerce federation said businesses have lost at least a billion euros (more than $1.1 billion U.S.) in sales. „I take my share of responsibility. I know I have hurt some of you with my words,” Macron said. The president condemned the violence seen at yellow vest demonstrations. He said calm and order must reign. The yellow vests acknowledged the president had made concessions but told media they will have to decide if Marcon’s emergency measures will be enough to stop the demonstrations. France has a decent record on income inequality when compared with other developed-world countries, but its slowing economy and high tax burden have created problems.