Scale of current economic downturn unprecedented since 1929 Great Depression, French economy minister says

France is facing an economic crisis

France is facing an economic crisis that can only be compared to the Great Depression of 1929, the minister of the economy and finance, Bruno Le Maire, warned as he laid out government plans to mitigate the damage.

The French government will not “allow the flagships of our industry… to go up in smoke just because there is an economic crisis of a magnitude unprecedented since the 1929 Great Depression in the West,” Bruno Le Maire said in an interview with France Info on Tuesday.

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