French President Nicolas Sarkozy is meeting with unions on Wednesday in an attempt to reach an agreement on economic stimulus plans and prevent further protests due to increasing unemployment and declining growth. Over a million people protested across France recently, criticizing Sarkozy's policies and demanding better pay and job security. Unions are planning another protest next month. Sarkozy's stimulus plan of 26 billion euros has focused on public spending projects rather than directly helping consumers and workers, leading to calls from unions and the political left for a change in direction. A television appearance following the protests only served to weaken Sarkozy's support even further. In an article published in Saturday's edition of Le Figaro newspaper, which has close ties to Sarkozy, he was quoted as expressing concern that the outcome of his five-year term is in jeopardy. The French economy experienced a significant decline with a 1.2 percent drop in GDP in the last quarter of 2008, the largest decrease in 34 years, due to falling exports and reduced stock by retailers. Additionally, unemployment in December was 11 percent higher than the previous year. Protests have disrupted the French Caribbean islands of Guadeloupe and Martinique, as well as to a lesser extent, the Indian Ocean island of Reunion, as demonstrators call for higher minimum wage and lower food and fuel prices. There are concerns that these protests could spread further in the current tense atmosphere. According to an IFOP poll published in regional newspaper Sud-Ouest on Saturday, 63 percent of respondents believe that similar protests could soon occur on the mainland. The opposition Socialists are putting pressure on Sarkozy by calling for a 1 percentage point reduction in value-added tax and a 3 percent increase in the minimum wage to stimulate consumer spending. Despite economists' consensus on the necessity of such measures, Sarkozy is hesitant to meet union demands, leading to little hope for progress in preventing further protests. Unlike other countries, France has not taken significant action to boost purchasing power, a fact criticized by Socialist Dider Migaud. Sarkozy argues that increasing public debt should be reserved for investments in the future rather than funding consumer spending, which has traditionally driven French growth. He may point to the recent increase in household consumption as evidence that further incentives are unnecessary. Britain has reduced its value-added tax by 2 percentage points, a move criticized by Sarkozy in his television address, which angered Downing Street. Sarkozy has stated he is open to considering actions like lowering income tax and enhancing unemployment benefits, but his employment minister and social affairs adviser reiterated their opposition to raising the minimum wage. Employment Minister Laurent Wauquiez believes increasing the minimum wage is an outdated idea that could harm struggling companies.