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France

Constitutional court clears way to sign pension reform into law

©

Text by News Wires

Latest update : 2010-11-09

France’s Constitutional Court approved a final version of a controversial pension reform Tuesday, giving President Nicolas Sarkozy 15 days to sign it into law. Millions have protested the bill, which will raise the age of retirement from 60 to 62.

 

REUTERS - France's Constitutional Council approved President Nicolas Sarkozy's pension bill on Tuesday, clearing the last hurdle to a reform that will raise the retirement age by two years to stem a huge pension deficit.
 
Despite a late challenge by the opposition Socialist party, the council ruled that the proposed pension law does not breach constitutional rules. It is likely to be signed into law by Sarkozy in the next few days.
 
Fierce opposition by trade unions and the French public, who staged the most sustained of a wave of protests in Europe against austerity measures, turned the pension reform into the biggest battle of Sarkozy's presidency.
 
Long-running port and refinery strikes that badly disrupted fuel supplies failed to stop parliament passing the pension bill last month, in a victory for the conservative president as he tries to reassure financial markets that France can tackle its public deficit.
 
Sarkozy's popularity ratings are at rock-bottom 18 months ahead of a presidential election, but pushing through a reform of the pension system where other governments gave in to unions has bolstered his standing within his centre-right UMP party.
 
Turnout has flagged at recent street marches against the reform, which will gradually raise the minimum and fully pensionable retirement ages by two years to 62 and 67 respectively.
 
France's main trade unions agreed late on Monday to call for a day of localised action on November 23 against the reform that could include small-scale work stoppages and workplace meetings, but their meeting made clear that momentum for large-scale nationwide protests over the pension law has waned.

 

Date created : 2010-11-09

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