French PM warns of debt crisis, seeks to scrap historic holidays

French Prime Minister Francois Bayrou has proposed scrapping two of the country’s 11 national public holidays in a bid to confront what he described as the “curse” of France’s growing debt.

While unveiling the 2026 budget proposals, Bayrou suggested that Easter Monday and May 8, a day that marks the end of World War II in Europe, could be axed.

The Prime Minister argued that removing the two holidays would align France with Germany, which has nine national holidays, and reduce the nation’s growing financial burden. He claimed the move could generate “several billions of euros” for the government.

France, grappling with years of overspending, is under pressure from the European Union to rein in its budget deficit and reduce its ballooning debt, which currently stands at 114 percent of its Gross Domestic Product (GDP) — the third highest in the EU after Greece and Italy.

Bayrou warned that the country must borrow every month to pay salaries and pensions, describing it as a dangerous situation that demands urgent correction.

Alongside the plan to scrap holidays, the government intends to freeze increases in spending across most sectors, including pensions and healthcare, while sparing only defence and debt servicing.

However, the proposal has triggered immediate backlash from opposition leaders.

Jordan Bardella of the far-right National Rally strongly criticised the idea, calling it an attack on France’s history, traditions, and workers’ rights.

Similarly, Marine Le Pen threatened a no-confidence vote if Bayrou refuses to withdraw the proposal.

Leftist politician Jean-Luc Melenchon called for Bayrou’s resignation, while Mathilde Panot of France Unbowed accused the Prime Minister of declaring a “social war” on the French people.

Bayrou argued that France must learn from Greece’s experience, which nearly saw it ousted from the eurozone during its financial crisis after 2008.

He insisted that the government must reduce public sector waste, trim the number of civil servants by 3,000 next year, and close down state-run agencies that offer little value.

He also promised that the burden of the reforms would fall more on the wealthy, stating, “We will ask little of those who have little, and more of those who have more.”

AFP.