French president announces minimum wage hike to end Yellow Vest protests

French president Emmanuel Macron said Monday to be hiking the minimum wage and propose tax cuts to bridge gap into political crisis and bring to end the anti-government demonstration, the Yellow Vest protests.

Macron declared in a 13-minute televised speech from Elysee Palace a state of social and economic emergency. He talked about introduction of a series of new measures including tax relief for the poor and no more tax increase on retirees.

He plans to hike a 100 euro per month minimum wage from January 1 and eliminate tax on overtime and end-of-the-year bonuses.

Pensioners who receive less than 2,000 euro per month pensions will be delisted from tax on pensions.

Last week the president also cancelled fuel tax with a hope the Yellow Vest protests, which turned to rioting and looting in many cities, could end.

The protests have caused millions of euros in damages in past four weeks. In Paris the damage was estimated to about 3-4 million euros.

The Yellow Vests demonstrations accused Macron being out of touch, committed to rich and arrogant.

Macron wrapped up his televised speech saying to meet mayors region by region to work out on a new program.

Paul Linus