France's economy in such a state it wants to scrap 2 bank holidays

France has proposed scrapping two public holidays in an effort to reduce its growing debt, boost the economy, and prevent financial collapse. The shocking proposal was made by the Prime Minister, François Bayrou while outlining the 2026 budget on Tuesday.

The two dates in consideration, according to the PM, are Easter Monday and May 8, when France commemorates Victory Day, marking the end of the Second World War. However, he claimed that nothing has been finalised and he was open to other options. He said: "The entire nation has to work more so that the activity of the country as a whole increases, and so that France's situation improves. Everyone will have to contribute to the effort."

France's financial situation is raising serious alarms as its deficit hit 5.8 percent of GDP in 2024, nearly double the 3 percent limit set by EU rules. Not only this, but the country's debt has ballooned to around €3.3 trillion, or 113 percent of GDP, making it one of the highest in the eurozone.

While sharing the steps, the PM said he would reduce €43.8bn from the budget, bringing down the deficit to 4.6 percent next year and 3 percent by 2029.

He explained that the debt mountain represented a "mortal danger" for a country "on a cliff edge" and "still addicted to public spending.

Other steps include a blanket freeze on government spending, with the exception of debt repayments and the defence budget-which President Emmanuel Macron has called to boost by €3.5 billion next year and further in 2027.

However, the proposal to scrap the bank holidays has not gone down well with a certain section of people who believe that it's a "direct attack" on France's history.

Jordan Bardella of the far-right National Rally (RN), the largest single party in parliament, told The Guardian: "Cancelling two holidays is a direct attack on our history, our roots and on working France. No RN MP will accept a measure that amounts to provocation."

Jean-Luc Mélenchon of the radical left LFI said it was "time to expel Bayrou" and "end this destruction, these injustices".

A Socialist party MP, Boris Vallaud, termed it as "a brutal and unacceptable budget". He added: "Asking always more from those who have little, and so little from those who have much, is neither serious, effective, nor just."