Single spark ignites French 'revolution'

"He is the president for the super rich," said one protester who gave his name only as Jules. He was demonstrating with dozens of others outside the Palace of Versailles on Dec 22, termed Act VI of the Day of Rage. Several other protesters also declined to give their full names, with some saying the police were tracking them.

Macron's speech and concessions had an impact. The number of protesters declined drastically on the weekends after his announcement, due also to cold weather and a terrorist shooting on Dec 11 at a Christmas market in Strasbourg, northeastern France.

Stephen Adelaide, a protester who lives in Versailles, described Macron's concessions as "a joke". "It is nothing," he said, adding that for many people, the high cost of living means that their monthly salaries are only enough for 15 days.

Adelaide said it was the third time he had joined the yellow vest movement. He and two of his friends all agreed that life today is more difficult than a decade ago.

According to Olivier Dussopt, secretary of state to the French Ministry of Public Action and Accounts, the measures announced by Macron are likely to cost the government 8 to 10 billion euros.

Economy and Finance Minister Bruno Le Maire said the yellow vest movement will cost the country an estimated 0.1 percent of GDP growth in the critical year-end quarter.

The Bank of France has lowered its forecast for French economic growth for both 2017 and last year from 1.6 percent to 1.5 percent.