French President Emmanuel Macron pledged on Wednesday, Oct. 21, to prevent further violence following nationwide rioting that took place on Oct. 17. During a visit to Qatar, Macron also dismissed comments from foreign leaders regarding the unrest as "stupid" and "unacceptable."
The unrest began in September with demonstrations over the cost of living and education funding, but escalated into what authorities described as the worst urban tumult in years. On Oct. 17, nationwide protests led to property damage and looting in Paris and other cities. In response, French authorities have implemented localized curfews and conducted thousands of arrests.
Justice Minister Gerald Darmanin reported Wednesday that approximately 2,500 people were taken into custody following the Oct. 17 events. Of those, 917 have been referred for prosecution and 174 have been jailed. Macron stated he would meet with senior ministers and intelligence officials on Thursday to coordinate a security response for upcoming rallies planned by the student union UNEF and the "Yellow Vest" movement.
The ongoing unrest has led to localized curfews and a reinforced security operation in major city centers. In Paris and other urban areas, small-business owners have protected shop windows with wooden panels. Public transport and daily commutes may be further disrupted as the UNEF student union and the Yellow Vest group prepare for new marches this coming Saturday, Oct. 24.
The economic scale of the crisis is reflected in the financial markets, where French government borrowing costs reached their highest level since July 2002. Benchmark 10-year bond yields rose to 5% this week. This increase in yields suggests investor concern that the unrest could complicate government efforts to repair public finances as protesters demand wage increases and better public services to offset rising fuel and energy prices.
Looking ahead, the labor standoff is expected to widen. Following inconclusive talks with Prime Minister Sebastien Lecornu, a coalition of unions led by the CGT has scheduled a national strike for Nov. 5. This action will test the government’s ability to maintain public services as France approaches presidential elections next year. Further security plans will be finalized following the president's meeting with intelligence officials on Thursday, Oct. 22.