Why a social crisis is likely in France

We believe that a social crisis in France is made likely by the fact that households and wage earners will be hit by a combination of: Rising energy prices due to the energy transition (due to the intermittency of renewable energy production and a higher CO 2 price); Job destruction (in fossil fuels, the automotive sector) , also due to the energy transition ; Soaring real estate prices due to the highly expansionary monetary policy and therefore even greater problems accessing housing; The continued skewing of the structure of jobs towards low-wage jobs in unsophisticated services. The economic policies needed to combat these developments are well known: redistributive policies aimed at low-income households, training and upskilling, reindustrialisation where possible, an increase in the lowest wages, support for housing construction.