French PM envisages nationalisations amid fallout from virus crisis

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French Prime Minister Édouard Philippe and his finance minster Bruno Le Maire said on Tuesday that the government might nationalise big companies left reeling from the fallout from the Covid-19 virus epidemic, alongside 45 billion euros in emergency measures to help firms weather the storm, on top of 300 billion euros in government loan guarantees, while the state deficit is expected to blow out to 3.9 percent of gross domestic product from a target of 2.2 percent.

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France put its 67 million people under lockdown on Tuesday, in an unprecedented act during peacetime, and said it was ready to nationalise big companies suffering financial turmoil created by the deepening coronavirus crisis, reports FRANCE 24.