Emmanuel Macron humiliated as France's riot chaos sends the Euro crashing
Emmanuel Macron has been left facing a deepening political and economic crisis as violent riots across France sent the euro lower and pushed French borrowing costs towards a 24-year high. The currency weakened against the US dollar on Monday as investors reacted to some of the country's worst unrest in years, with looting, clashes with police and attacks on public buildings adding to fears over France's already fragile finances.
TL;DR
- Violent riots across France have led to a deepening political and economic crisis.
- The euro weakened against the US dollar, and French borrowing costs surged to near a 24-year high.
- Over 3,000 shops were looted or damaged, and around 2,400 people were arrested.
- The unrest intensifies pressure on Emmanuel Macron's administration, struggling with budget issues.
- There are fears the crisis could spread to other indebted eurozone countries, particularly Italy.
- The situation could benefit Marine Le Pen's National Rally ahead of next year's presidential election.
- Moody's is due to review France's credit rating this week.