Macron's Concessions Won't Satisfy Paris Protesters for Long
*By Chloe Aiello*
The famously stoic president of France may have conceded on fuel taxes to protesters, but his decision was most likely a product of circumstance, not an act of altruism. In this case, said Erin Zaleski of the Daily Beast, Emmanuel Macron had no one with whom he could negotiate. But small concessions, like a fuel tax moratorium, won't be enough to satisfy protesters who are wreaking havoc in the streets of Paris.
"People aren't impressed by this concession by the government. They are very suspicious. They are saying, 'Oh well, six months from now, they are just going to reimpose the taxes again so nothing will change,'" Zaleski said.
The protesters "are actually calling for another demonstration this Saturday," she added.
Macron's government on Tuesday announced France will suspend for six months a tax on gas and diesel, originally intended to go into effect in January. The decision follows widespread disruption in the nation's capital, [according the the New York Times](https://www.nytimes.com/2018/12/04/world/europe/france-fuel-tax-yellow-vests.html?action=click&module=Top%20Stories&pgtype=Homepage), from demonstrations that turned violent and destructive. At least three are dead and about 100 injured in clashes between police and yellow vest-clad protesters, called "Yellow Jackets" or "Gilets Jaunes," named for the for the roadside safety vests they wear.
The Gilets Jaunes movement, which is decentralized and organized online, seem to consist largely of working-class individuals who live and work on the outskirts of cities or in rural France and require their cars to commute. Alice Preat and Joseph Cavetz, students at the American University in Paris who witnessed the demonstrations, said the mix of protesters was remarkable.
"People from all over the country are coming to Paris to protest ー its not just Parisians, which is kind of unheard of in terms of Paris protests," Preat said.
"There's definitely a sense of unity in their cause of anti-Macron," Cavetz said. "In America you typically have some element of polarization where the far left and far right wouldn't attend the same protest, but here its a ... very spread out kind of opposition."
Macron's latest fuel tax would add a few cents per gallon to the price of gas to improve France's environmental rap sheet. It proved a breaking point for protesters, who aren't as concerned with environmental reform as they are disgruntled about stagnating wages and rising living costs.
"Generally French people of the lower social classes take issue with it because they feel that the government is hiding behind environmental policies in order to just tax the poor more," Preat said.
Like Zaleski, Preat was not convinced the protests in Paris would cease after Macron's gas tax moratorium. She added the events of the past few weeks would likely undermine his authority.
"His opposition is going to be able to use the violence over these past couple weekends as justification for any counter moves they want to take against him," she said.
Macron has not historically allowed the will of the people to influence his policy-making ー most recently when he faced opposition over the summer to his railway reforms. But this time is different, because Macron is alone at the negotiating table, Zaleski said.
"What's different in this instance is these aren't unions, these aren't companies to negotiate with. These are very loosely organized protests. It has actually sort of evolved into a movement ... there's no one to negotiate with, there's no company, these are the people in the streets," Zaleski said.
And the protests are especially poignant because they're happening in pristine, photogenic, and touristy central Paris.
"I think he sort of felt caught between a rock and a hard place, because the protesters don't seem to be backing down. And again the fact that this violence erupted in central Paris ... you see fires at the Champs Elysees, you see vandalism at the Place Vendome," Zaleksi said.
In February, Senator Jeff Merkley (D-Ore.) and Representative Jamaal Bowman (D-N.Y. 16th District) introduced the Fair College Admissions for Students Act. The bill looks to curb the admissions advantage given to the children of alumni and donors for colleges and universities. Sen. Merkley joined Cheddar news to discuss the push behind the legislation. "My dad was a mechanic. I was applying to schools around the country. I never thought about the fact that those students who came from the most privileged backgrounds also got a special advantage in applying to college," he said. "They take up 10-25 percent of the slots at many of our universities, and so this is kind of affirmative action for those who need it least rather than a level playing field for everyone else." If enacted, the law would amend the Higher Education Act of 1965 doing away with legacy or donor status admissions for any school participating in the federal student aid program.
Nancy Daoud, a private wealth adviser for Ameriprise Financial, joins Cheddar News' Closing Bell, where she discusses what led to a sharp spike on Wall Street during Tuesday's session and what she will be watching for most closely when the Fed announces it latest policy decision on Wednesday.
Russia's economy is effectively at a standstill after it was slapped with extensive western sanctions, and now it has to make the first of four monthly interest payments on dollar bonds. It's likely the country will not be able to pay — so what happens next? Major credit ratings agencies have downgraded Russian sovereign debt, with Fitch issuing a 'C' rating and S&P Global Ratings issuing a 'CCC-' rating. Caleb Silver, Editor in Chief of Investopedia, joins Closing Bell to discuss what a Russian debt default could mean for Russia's economy, U.S. consumers who have pensions with exposure to Russian assets, and whether this could create a global financial crisis.
With the number of Ukrainians being displaced due to the Russian invasion surging, two students from Harvard took it on themselves to develop a website to help connect potential hosts with refugees seeking housing. The co-founder of the website Ukraine Takes Shelter, Marco Burstein, joined Cheddar news to discuss working together with fellow freshman Avi Schiffmann to streamline the effort to aid Ukrainian refugees. "We basically worked for three days straight developing the website, and since then the response has been pretty incredible," Burstein said.
Over three weeks ago, WNBA player Brittney Griner was arrested in Russia on drug charges. According to reports, the Star arrived at an airport near Moscow where authorities found Vape cartridges and hashish oil in her luggage. Grindr faces serious charges that could carry a possible sentence of 5-10 years in a Russian prison. Experts warn that Griner's arrest could be used as a bargaining chip. Partner at Stroock & Stroock & Lavan, Thomas Firestone, joined Cheddar to discuss more.
On a live broadcast, an employee on a Russian state news television channel held up a sign protesting propaganda about the war in Ukraine. Ruslan Deynychenko, executive director of the Ukrainian fact-checking organization StopFake, joined Cheddar News to discuss what he called the misinformation spread to the Russian people about the invasion. "They are not about informing people they are about brainwashing people," he said. "Russian government uses their media as an instrument, as a tool, of their foreign policy."
Student loan payments for millions of borrowers are set to resume on May 1st. However, signals from the Department of Education show that the date may be pushed back. Once again, it's been pushed back a few times. Initially, the Biden Administration stated loan payments would resume as the economy continues to show signs of recovery. Student Loan Expert and Author of "How to Appeal for More College Financial Aid", Mark Kantrowitz, joined Cheddar to discuss more.
