Turnout drops to 320,000 as French debt outlook turns negative

France’s government faces a tightening financial squeeze as a surprise debt downgrade lands on the same day as the third weekend of nationwide protests. Ratings agency Fitch revised the outlook on French public debt to negative on Friday. The move underscores growing investor anxiety over a country where debt is approaching 120% of economic output.

Demonstrations continued on Saturday, but participation declined. The Interior Ministry reported 320,000 protesters nationwide, including 70,000 in Paris. This figure is down from 410,000 the previous Saturday and 550,000 on October 17. The drop in numbers follows two weekends of riots and looting that damaged shops and public buildings.

Violence broke out in several cities as the marches ended. Riot police charged small groups in Paris and fired tear gas in Lyon and Toulouse. Tensions also flared in Marseille, though calm returned by nightfall. Security checks at rail stations and on roads revealed individuals carrying objects that could serve as weapons.

Interior Minister Laurent Nunez stated that security forces protected city centers and maintained public order. He acknowledged that police faced a great deal of violence. Nunez warned that authorities are bracing for scattered unrest later in the evening. He cited calls for insurrection on Halloween night and noted that existing laws allow police to prohibit face coverings when public order is threatened.

"The day is not over. We are ready for those looking for a fight tonight, and we will respond firmly," Nunez told reporters. The Interior Ministry said in a statement that radical elements attempted to break away from marches in Bordeaux, Toulouse, Lyon, and Marseille. Security forces thwarted these attempts.

The protests unite students, trade unions, and Yellow Vest protesters. They cite high fuel prices, rising inflation, and strained public services as primary drivers. Students began mobilizing in September over the state of schools and university admissions. Far-left leader Jean-Luc Melenchon marched at the head of the Paris demonstration. His ratings have risen ahead of the presidential election in April.

Protesters expressed frustration with the current administration. Jerome Rodriguez, a participant in the Paris march, described the leadership as a group of incompetents juggling billions while families struggle with cents. He said the group is shouting demands to get a response from the government, though that seems unlikely.

Aaron Berthier de Grandry, a 15-year-old student from Nogent-sur-Marne, joined his third consecutive weekend of protests. He stated that if young people lack resources, France will end up collapsing. The US Embassy advised travelers to avoid areas with planned demonstrations or large gatherings.

The unrest has cost retailers over €1 billion, according to the Chamber of Commerce. Other estimates place the total at double that figure when including uninsured damage and lost revenue. Along major shopping boulevards, early Christmas lights glowed around boarded-up windows. Luxury brands including Hermes, Louis Vuitton, and Burberry had outlets targeted in previous weekends.

The political landscape remains tense. Far-right leader Marine Le Pen leads opinion polls for the April election. Potential centrist successors to President Emmanuel Macron remain divided. Data released on Friday showed the French economy was already shrinking in the third quarter.