France pledges $50B to aid small businesses
French Finance Minister Bruno Le Maire announced the new aid after another dark day for French markets.
French Economy and Finance Minister Bruno Le Maire visits the French catering group Butard Enescot to talk about the consequences of the Covid-19 outspread on companies working for events in Colombes, near Paris on March 12, 2020.
France's government is pledging $50 billion in aid for small businesses hurt by the spreading coronavirus.
That's in addition to tens of billions already promised for French workers forced to stop working because of store and restaurant closures and strict new confinement measures.
French Finance Minister Bruno Le Maire announced the new aid Tuesday morning, after another dark day for French markets.
The makers of Renault, Peugeot and Citroen cars suspended all production and other companies were forced to sharply curtail activity to stem the virus' spread.
The aid will include tax breaks and a "solidarity fund" for struggling small businesses across the economy.
Le Maire said the pandemic "will be a catastrophe for all countries of the world. The shock will be violent."
France now has more than 6,600 cases of the virus, including 148 deaths.
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