In France, on May 3rd, Prime Minister Bérut stated that in order to defuse the social backlash caused by large - scale fiscal austerity, he is considering holding a referendum on the national budget, claiming that debt reduction is crucial for the "future of the country" and requires a decision from the entire population.
France and Spain Face Hurdles in Economic Policy Adjustment: Fiscal Austerity and Military Spending Pressure
In France, on May 3rd, Prime Minister Bérut stated that in order to defuse the social backlash caused by large - scale fiscal austerity, he is considering holding a referendum on the national budget, claiming that debt reduction is crucial for the "future of the country" and requires a decision from the entire population. The government plans to cut several billion euros in deficits, but it faces the pressure of no - confidence motions threatened by trade unions and opposition parties. President Macron had previously hinted at the possibility of a referendum, but the specific issue was not clear.
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Meanwhile, Spain is under dual pressure from the US and the EU. The EU Defense Commissioner Kubilius has asked Spain to increase its defense spending to 3% of GDP to cope with the Russian threat. Currently, Spain's military spending accounts for only 1.3% of GDP, the lowest in NATO. Prime Minister Sánchez promised to achieve the 2% target ahead of schedule in 2024, but the far - left Sumar party within the coalition government strongly opposes this.
Analysis points out that many European countries are struggling to balance fiscal austerity and security investment, and the conflict between economic policies and social consensus is intensifying.
