The new restrictions decided by the French government do not constitute a true lockdown but they will weight again on economic activity. Household will spend less and enterprises won’t definitely see a signal encouraging them to invest. Growth, they are thinking at Bercy, wouldn’t be much impacted. Retail shops which must close in more than one third of the country will receive supports to go through that new ordeal but amounts are not considered as important enough to review budget forecasts. But all that will only increase public debt without the growth comeback generates enough resources to guarantee ...