French President Nicolas Sarkozy will be meeting with unions on Wednesday in an attempt to reach an agreement on economic stimulus plans and prevent further protests due to the country's increasing unemployment rate and declining economic growth. Over a million people protested across France recently, criticizing Sarkozy's policies and calling for pay raises and job security amidst the economic downturn. Unions are planning another protest next month. Sarkozy's 26 billion euro stimulus plan has prioritized public spending projects over direct assistance to consumers and workers, leading to criticism from unions and the political left. A televised appearance following the protests aimed to reassure the public but ended up further weakening Sarkozy's support. In Saturday's edition of Le Figaro newspaper, which is known for its close ties to Sarkozy, the president was quoted as telling advisers that the outcome of his five-year term is in jeopardy. The French economy experienced a significant downturn in the last quarter of 2008, with a 1.2 percent decrease in GDP - the largest drop in 34 years. This was due to a decrease in exports and retailers reducing their stock, leading to an increase in unemployment. Strikes in Guadeloupe and Martinique, and to a lesser extent in Reunion, have been calling for higher minimum wages and lower food and fuel prices. There are concerns that these protests may escalate in the current tense environment, with a poll showing that 63 percent of respondents believe similar demonstrations could soon occur on the mainland. The opposition Socialists are pressuring Sarkozy before the "social summit" by calling for a 1 percentage point cut in value-added tax and a 3 percent increase in the minimum wage to stimulate consumer spending. Despite economists and unions advocating for these measures, Sarkozy is hesitant to boost consumer spending, preferring to focus on investments for the future rather than increasing public debt. The recent rise in household consumption is likely to be used as a defense by Sarkozy, who believes consumers do not need additional encouragement to spend. Britain has reduced its value-added tax by 2 percentage points, a move criticized by Sarkozy in his television speech as bringing no progress, which has angered Downing Street. Sarkozy has mentioned potential measures like lowering income tax and increasing unemployment benefits, but his employment minister and social affairs adviser remain against raising the minimum wage, calling it an unrealistic idea that could harm struggling companies.