Bruno Le Maire said France’s economy will be seriously affected by the protests against Mr Macron’s fuel reforms, which saw cars gutted after being set on fire, landmarks such as the Arc de Triomphe graffitied and three people killed. Mr Le Maire said: “We must expect a new slowdown of economic growth at year-end due to the yellow vest protests. It is a catastrophe for trade, it is a catastrophe for our economy.” He also said protests that will cut economic growth by about 0.1 percentage points and called on Mr Macron to unify the country once again. He added: “Our country is deeply divided, between those who see that globalisation has benefited them and others who can’t make ends meet, who say globalisation is not an opportunity but a threat.
“It is the president’s role to unify the country.”
His comments come after French Deputy Interior Minister Laurent Nunez said 700 protesters had been arrested since the revolts – that have taken place over three consecutive weekends – began, though news agency AFP put the number at 950.
The first weekend of protests took place on November 17 and saw more than 250,000 raging civilians march through Paris against the rising cost of fuel, which over ten months has skyrocketed by 23 percent.
They are expected to further increase in January, despite protests spilling into Belgium and the Netherlands.
When three people died after being caught up in the previous weekend of violence on December 1 and 2, Mr Macron and his government agreed to consider a U-turn on the rise.
After a series of meetings the French government agreed to abandon the fuel hike that had originally triggered the protests.
But this has failed to stop the protests.
Today it was announced Mr Macron will hold an emergency meeting to address the nation over the soaring street violence as a result of the protests.
After being heavily criticised for his long silence the French head is expected to consult with national and local officials, trade unions and employers’ organisations in the morning.
His office confirmed he will speak to the French people for the first time in four weeks at 8pm (7pm GMT) this evening.
Senior officials from the palace have said the 40-year-old centrist would announce “immediate and concrete measures” to respond to protesters and calm demonstrators.
Yesterday there were calls for Mr Macron to resign.