French protests expose chronic fiscal crisis

More than 500,000 people protested in 110 French cities on Saturday, marking the peak of a wave of demonstrations that began in September, resulting in vandalism, fires, and over 2,400 arrests. The protests stem from France's chronic fiscal crisis, with the government facing a budget deficit estimated at 5.4% of GDP this year and public debt reaching 119%, the highest level since 1946. President Emmanuel Macron's proposed €43 billion in spending cuts, including education, triggered the unrest. France has not balanced its budget since 1974, and its generous welfare state costs 57% of GDP. The article draws parallels to Brazil, noting both countries struggle to implement fiscal reforms, with Brazil's presidential candidates avoiding the issue.