Open

Coming up

Don't miss

Replay


LATEST SHOWS

BUSINESS DAILY

France's Iliad reaches for T-Mobile

Read more

IN THE PAPERS

Is Poor Military Training Causing a Larger Death Toll in Gaza?

Read more

AFRICA NEWS

Ebola death toll tops 700

Read more

IN THE PAPERS

Villepin Criticises France for Not Speaking Out on Gaza

Read more

MEDIAWATCH

UNRWA official breaks down over Gaza deaths

Read more

DEBATE

Argentina Defaults: Kirchner Cries Foul Over 'Vulture Funds' (part 2)

Read more

DEBATE

Argentina Defaults: Kirchner Cries Foul Over 'Vulture Funds'

Read more

THE BUSINESS INTERVIEW

War and Markets, with Steen Jakobsen, Chief Economist at Saxo Bank

Read more

FOCUS

Constitution prohibits Aung San Suu Kyi from running for president

Read more

  • Live: Israeli soldier feared captured, ceasefire 'over'

    Read more

  • Regional summit to tackle deadly Ebola outbreak

    Read more

  • €2.5 million in cocaine ‘disappears’ from Paris police HQ

    Read more

  • Interactive: France’s new plan to counter jihadism in Africa

    Read more

  • Ukrainian army suffers losses in separatist attack

    Read more

  • Dozens killed and injured in Taiwan gas blast

    Read more

  • Argentinian markets plummet following default

    Read more

  • French Jews speak of growing fear in Paris amid Gaza conflict

    Read more

  • Video: Inside Hamas ‘terror’ tunnels in Gaza

    Read more

  • Sierra Leone declares state of emergency over spread of Ebola

    Read more

  • France remembers murdered socialist hero Jean Jaurès

    Read more

  • Air France ground workers to strike on August 2

    Read more

  • Scores feared dead in India landslide

    Read more

  • Russia ordered to pay further €1.9bn to Yukos shareholders

    Read more

  • Russia defiant as US, EU unveil 'phase three' sanctions

    Read more

France

French pension reform bill moves closer to law

Text by FRANCE 24 (with wires)

Latest update : 2010-10-26

Both houses of parliament will vote this week on a harmonized version of pension reform legislation as the bill moves its way towards adoption. The government expects the bill, which will raise the retirement age to 62, to become law by Nov. 15.

Representatives from the French Senate and National Assembly agreed on Monday to a reconciled version of pension reform legislation, bringing the controversial bill which will raise the retirement age from 60 to 62 one step closer to reality.

The Senate will formally vote on a revised bill on Tuesday followed by the National Assembly on Wednesday.

Following its adoption by both houses of parliament, France's constitutional court will be the last recourse for France’s Socialist party, which is seeking to have the bill ruled unconstitutional.


Meanwhile, workers at a quarter of France's strike-hit oil refineries started returning to work on Monday, taking some of the steam out of protests that have roiled France for weeks. Strikes have now ended at three of country’s twelve refineries, but eight remained blockaded according to union officials.

"We are up against someone who despises us. Do we really want to carry on until we break?" asked one worker at the Ineos-Lavera refinery, near the southern port of Marseille. "I don't think it's worth it."

French President Nicolas Sarkozy has put his credibility on the line by pushing forward with pension reform, despite crippling strikes, widespread protests, and his own dismal popularity. According to some surveys on Monday, his approval ratings dipped below 30 percent for the first time.

French workers have enjoyed the right to retire on a state pension at 60 since 1982. The measure is seen as one of the great social advances of former Socialist president Francois Mitterrand's time in office.

But Sarkozy insists that, at a time of rising life expectancy and soaring budget deficits, France can no longer afford to retire earlier than other industrialised countries.

Spokesman Raymond Soubie told Europe 1 television Sunday that the president fully expects the law to be entered into the statue books by November 15.

Unions are already planning two more major days of action in the coming weeks.

Threat to economic recovery

French authorities warned Monday that strikes against pension reform have cost up to three billion euros so far and threaten to derail France's still fragile economic recovery.

"Today, we shouldn't be weighing down this recovery with campaigns that are painful for the French economy and very painful for a certain number of small and medium-sized businesses," Finance Minister Christine Lagarde warned on Monday.

Speaking to radio Europe 1, Lagarde estimated that the strikes were costing the economy between 200 and 400 million euros per day.

Lagarde also warned that images broadcast around the world of demonstrators clashing with riot police and of industrial sites blocked by protesters had cost France dear in terms of its international image for investors.

"It's the attractiveness of our territory that's at stake when we see pictures like that," she argued, adding that ongoing strikes at refineries and fuel depots were also taking a toll.

"It's obvious that the petrochemical sector in particular, which needs large supplies of hydrocarbons, is suffering," she said.

But the Socialist Party blamed the government for the strikes.

“Every day that goes by represents a loss for the French economy,” Socialist Party spokesman Benoît Hamon told FRANCE 24. “All this can be blamed on the government, and it knows it.”

The strike at French oil refineries over pension reform disrupted school holidays and sporting events over the weekend, with a quarter of petrol stations short of fuel.
 

Date created : 2010-10-25

  • FRANCE

    Navigating the strike: a traveller's survival guide (Oct 28)

    Read more

  • FRANCE

    All fuel depots now cleared of blockades, oil industry says

    Read more

  • FRANCE

    French unions unbowed after pension reform clears Senate

    Read more

COMMENT(S)