The International Monetary Fund (IMF) issued a warning about agrarian protests in Europe, noting that they could have an impact on prices if they persist. However, the IMF also states that these protests are not expected to have a major impact on economic growth in the region.

IMF spokeswoman Julie Kozack said at a press conference that “there could be a more significant impact on prices if the protests continue for a prolonged period.”

Despite this, due to the fact that the agricultural sector in most European countries is “relatively small” in terms of Gross Domestic Product (GDP), any economic impact is expected to be limited at this time.

For three weeks now, farmers from all over Spain and other European countries have come out to protest against various issues, such as the bureaucracy of the Common Agricultural Policy, environmental requirements for production and fair prices at source.

The main criticism focuses on the Green Deal, with which the European Union (EU) aims to achieve climate neutrality by 2050.

IMF Managing Director Kristalina Georgieva also warned about the consequences for economies if governments give in to the protests.

While understanding the difficulties farmers face, Georgieva noted that if the protests continue and governments do not take the necessary steps to strengthen the economies, they may regret their decisions in the future.

K. Tovar

Source: Bancaynegocios

(Source image reference: @contrapuntovzla, x)

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The French government led by Emmanuel Macron used a controversial procedure to implement its unpopular pension reform without a vote by deputies.

Macron proposed delaying the retirement age from 62 to 64 by 2030 and bringing forward to 2027 the requirement to contribute 43 years (instead of the current 42) to collect a full pension. However, two out of three French people are opposed to the reform, according to polls.

Despite the approval of the Senate, the government struggled to convince a handful of pro-government deputies and about twenty from their right-wing ally, The Republicans, who are still reticent. Fearing a setback in the National Assembly, the government has chosen to activate article 49.3, although this may intensify social protests.

More than 1,500 demonstrators went to the Assembly headquarters after the announcement of the mechanism, led by student organizations and chanting “Hey Manu Manu, 49.3 or not, we don’t want your reform!”

K. Tovar

Source: Descifrado

(Reference image source: file)

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