France’s Finance Minister Calls Protests a ‘Catastrophe’

(Bloomberg) -- French Finance Minister Bruno Le Maire said the country’s “Yellow Vest” protests were a serious blow to the nation’s companies and economy.

“It’s a catastrophe for business,” Le Maire said Sunday, while visiting shops in Paris a day after the destructive protests. “It’s a catastrophe for our economy.”

In Paris, many retailers boarded their windows on Saturday in anticipation of protests which focused on the Champs-Elysee and surrounding avenues, as well as busy shopping districts in the Opera district. Iconic department stores like the Galeries Lafayette and Printemps were closed on a December weekend day that would typically be a peak for holiday shopping.

On some streets, demonstrators tried to erect barricades, using urban furniture and paving stones, and defying police. Rioters looted a golf supply store, making off with clubs they used to smash the windows of bank branches.

Police arrested 1,700 people nationwide and held 1,200 in custody after containing several late night skirmishes on Saturday. About 179 people were hurt as extreme-right, extreme-left and anarchist groups defied riot forces in Paris, according to the police prefecture. In Paris, at least 920 people were arrested, with as many as 620 in custody.

©2018 Bloomberg L.P.