France is poised to cancel its annual Victory in Europe Day (VE Day) holiday – May 8th – as Prime Minister Gabriel Attal seeks drastic measures to address a growing budget deficit. The move, announced this week, is part of a broader plan to cut national debt and freeze public spending.
Facing a significant €44 billion budget squeeze, Attal's government is considering scrapping two public holidays and implementing spending cuts. This aims to alleviate the country's crippling debt and stabilize its finances.
The proposal has already drawn criticism, with far-right leader Marine Le Pen threatening to destabilize the government over the austerity measures. Deficit refers to the difference between what a government spends and what it receives in revenue.
The decision highlights the challenging economic climate in France and the difficult choices facing policymakers.