France has suffered €1 billion in damage due to widespread rioting, said Geoffrey Roux de Bézieux, head of France’s largest employer federation, the Movement of the Enterprises of France (MEDEF), during an interview with French newspaper Le Parisien.
“More than 200 shops were completely looted, 300 bank branches destroyed, 250 tobacconists affected, with operating methods of absolute violence. Everything was stolen, even cash registers, before setting fire to destroy. The insurers are mobilized to go as quickly as possible, I am quite confident that the businesses concerned will be compensated,” he said. Despite Bézieux’s claim that businesses will be paid out, insurance companies often raise premiums on businesses due to increased risk of future riots.
However, according to Bézieux, this tremendous figure does not even factor in the effect on tourism, and also does not include damage to public institutions like schools, libraries, police stations, as well as the hundreds of vehicles torched during the nationwide riots. The rioters, for example, targeted one of the biggest libraries in the country, the Marseille Alcazar library, with arson damage likely costing taxpayers millions alone to restore….