Macron Rejects Interior Minister's Resignation After Riots Rock France

 

President Emmanuel Macron has refused his interior minister's resignation after weekend riots across France. He ordered Laurent Nunez to end the barricades and looting and explain the intelligence failures.

The Elysee said Nunez offered to resign on Monday after the violence. Macron turned him down and told him to urgently produce new ways to stop the unrest.

The president also wants Nunez to be open about failures in foresight and intelligence. Those failures, the Elysee said, led to the violence.

Weekend Protests Turn Violent

Hundreds of thousands marched on the streets at the weekend over declining public services. Many protesters say the state leaves citizens to fend for themselves amid rising living costs.

Rioters quickly hijacked peaceful marches in Paris, Marseille and Lyon. They vandalised property and caused chaos in several streets.

Violent groups burned a town hall and looted shops on Saturday. They also covered buildings in graffiti while clashing with police across the country.

Fresh clashes broke out in Paris and Marseille on Sunday. Riot police stepped in to stop attempts to ransack businesses.

Police Overstretched

France deployed 60,000 police and other security forces on Saturday, Nunez told France Inter radio. He admitted that number could not control violent crowds in certain cities.

Justice Minister Gerald Darmanin backed the president's call on France 2 television. He said intelligence failures left the state exposed to extreme-left rioters it had underestimated.

Marseille has banned public gatherings for Monday after the violent protests. The city moved to prevent more unrest following the clashes.

The unrest follows weeks of student demonstrations that sometimes turned violent. It comes six months before the next presidential election.

Markets React

France's 10-year bond yield rose 8 basis points to 4.86% on Monday. Germany's benchmark yield stayed flat at 3.41%.

The CAC 40 index fell 1.3% in early trading. Shares in BNP Paribas, Societe Generale and Credit Agricole each dropped about 2%.

Protests over living costs also took place in Italy, Belgium and Albania. High fuel prices, largely linked to the Iran war, have added to people's pain.

The unrest also threatens Macron's fragile government as it tries to pass a budget bill. Investors fear tensions over security failures will unsettle efforts to rein in debt.