‘we are at war’ Macron warns as France unveils $50 billion in coronavirus measures

‘we are at war’  Macron warns as France unveils $50 billion in coronavirus measures

France will spend 45 billion euros ($50 billion) to help small businesses and employees struggling with the coronavirus outbreak, the country’s finance minister announced Tuesday, after President Emmanuel Macrondeclared “we are at war” against the virus.

Speaking in a televised address late Monday, Macron told the French people they are only allowed outside their houses for essential trips, such as to buy food and medicines, for a period of two weeks. He also said the French army will be moving coronavirus patients from overwhelmed regions to other parts of France, where there’s spare capacity to take care of people; and that there will be “unlimited” state financial aid for businesses.

“We have to mobilize all our forces,” Bruno Le Maire, the French finance minister, told RTL radio Tuesday, adding further details to the promises made by Macron. 

 “We don’t want bankruptcies,” Le Maire said.

The coronavirus outbreak, which emerged in China late last year, has weighed heavily on all major economies. Airplanes are not taking off as people are avoiding vacations, restaurants and coffee places are working reduced hours in some countries, and other nations are in total lockdown — meaning that only pharmacies and grocery stores are open.  

However, Le Maire said he is expecting the French economy to contract by 1% in 2020.