French President Emmanuel Macron has announced a series of financial measures seeking to defuse the "yellow vest" revolt that had triggered violent protests across the country.
On Monday the French President rolled out "an economic and social emergency plan" which involves an increase in minimum wages and tax cut.
Xinhua, quoted Macron, who in a televised speech from the Elysee Palace, said, "I accept my share of responsibility for the crisis."
"I had heard the anger and indignation of the people and accepted that the French authorities have not been able to properly respond to the demands of the people for almost a year and a half. I take my share of responsibility," he added.
Promising on a quick response, the French President highlighted that the minimum wage of the people would be hiked by 100 euros (or USD 113.52) per month as of January 2019, without any benefit to the employers.
Macron also revised the tax rates for the people who work for overtime hours, pensioners and the bonus offered to workers at the year-end.
"I ask the government and Parliament to do what is necessary so that one can live better from his work from the beginning of next year," Xinhua quoted the French President .
The "yellow-vests" French protests have been continuing since November 17, against the fuel prices hiked by the Macron government as a step to combat climate change.
Disclaimer: No Business Standard Journalist was involved in creation of this content
