French President Emmanuel Macron appears to be determined to push through proposed pension reforms, Reuters reports. The French can now retire at the age of 62, but the reform would raise that limit to 64 or 65.
French unions are far from happy with the plan, devised by Prime Minister Elisabeth Borne. Next Tuesday he should explain the reforms. France has one of the lowest retirement ages in the industrialized world, spending nearly 14 percent of its economic output on pensions, calculated the Organization for Economic Co-operation and Development.
Not easy
While Macron appears determined to implement the reform, actually implementing it in parliament will be much more difficult. There is no viable majority in the French House of Commons and he will therefore have to convince a few dozen Conservative MPs. Otherwise, he can use his constitutional power to approve the Assembly.
Pensions have always been a touchy subject in France, especially as social unrest threatens and the general cost of living skyrockets. The French government, however, insists that reforms are needed to keep pension finances out of the red.
Source: BNR
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