News Digest: Euro Drops, Farmer Strikes & a Cold Snap on its Way

French farmers are back on the roads this week in protest against the Mercosur trade deal, which they feared would be signed at the G20 summit that started yesterday in Rio de Janeiro, Brazil. The proposed EU trade deal would reduce customs duties on South American goods, which farmers say will allow a surge of lower-cost produce to flood the EU market and put further strain on local agriculture.

The protests, which continue today, saw tractors blocking major routes into Paris, Toulouse, Lyon, and other cities around France, with unions even threatening to block food freight into Toulouse if their concerns are ignored. Minister of Agriculture Annie Genevard has insisted that the deal is not due to be signed at the summit. Meanwhile, Interior Minister Bruno Retailleau has proclaimed that while the farmers, of course, maintain the right to peaceful protest, there would be “zero tolerance” of long-term disruptions to traffic and freight transport.

If you’re travelling around France this week, it’s a good idea to follow local traffic updates and allow extra time for your journey to account for potential traffic jams.

There’s a cold snap on the way in France this week, with temperatures expected to drop by several degrees all around the country from tomorrow (Wednesday 20^th) and snowfall is predicted at high and medium altitudes. Some low-lying areas may also receive some snowfall, although the cold front seems more likely to bring wet, windy, and overcast weather outside of the mountainous areas.

The upside of this long-awaited snowfall is that it bodes well for the start of the 2024/25 snow season. The first of the French ski resorts set to open include Val Thorens at 2,300m, the high-altitude Tignes-Val d’Isère, and Grands-Montets in the Chamonix Mont-Blanc area, all of which are expected to open from November 23rd. Most other resorts are planned to open on the first or second weekend of December, depending on conditions.

If you’re travelling in the mountains this week, keep an eye on conditions and alerts via France Météo.

If you are a second-home owner in France and pay your taxe d’habitation property tax bill monthly, you should have received your bill yesterday, Monday 18th November. Those who have elected to pay annually or who have requested a paper bill should have already received their bills. You have until December 15th to pay your bill.

The knock-on effects of Donald Trump’s US election victory and the collapse of Germany’s governing coalition have led to the fall of the euro against both the British pound and the US dollar. While this isn’t good news for those living and earning in the eurozone, it does provide an opportunity for French property buyers and owners to maximize on the favourable exchange rate.

Last week, the pound hit a 31-month high against the euro, while the dollar hit a rate of $1.05, its highest rate since hitting parity with the euro back in 2022. If you are property hunting in France, this could be a good time to discuss exchanging funds or securing a forward contract – talk to your currency exchange specialist or get in touch with our partners at Moneycorp to discuss your options.