French FinMin Le Maire: State aid to tackle coronavirus has cost French state 20% of GDP

State aid to tackle coronavirus since mid-March has cost French state EUR450 bln or 20% of GDP, said the country’s Finance Minister Bruno Le Maire on Monday.

Key quotes

“President will announce "strong" measures to help autos sector on Tuesday.”

“Still not signed off on Renault planned loan.”

“Reiterates that Renault will have to be shareholder in electric car battery alliance as part of auto sector plan.”

“Cannot rule out job cuts at Renault.

“State raising its stake in Renault is not on agenda for now.”

more to come ...