The World Briefly

April 17, 2023

Battle Won, War Continues

France

Listen to Today's Edition

French President Emmanuel Macron signed into law Saturday an unpopular reform that will raise France’s retirement age, despite mass protests against the measure and pledges by union workers to continue strikes and demonstrations, CNBC reported.

The president’s signature came a day after the country’s Constitutional Council approved a majority of the provisions in the bill that would, among other changes, increase the retirement age for most workers from 62 years of age to 64.

The changes are expected to be implemented in September.

Saturday’s signature comes following months of street protests and parliamentary opposition against the law. Macron’s popularity has taken a hit, with analysts suggesting that the pensions saga could benefit the far-right National Rally party – which mostly opposes the law.

Many labor unions and demonstrators have vowed to continue their actions against the reforms.

Labor unions and opposition politicians have criticized the legislation, saying it will impact lower-paid workers and women, while companies will report higher profits.

The government, meanwhile, countered that the changes were necessary to secure the costly pension system into the future.

Macron has acknowledged that people felt a “sense of injustice” and said he would look to make businesses contribute more. Ahead of the council’s decision, he said he would meet with unions to discuss the changes.

Analysts said the council’s partial approval of the law was the best outcome for the president, adding that Macron and unions could “negotiate some sort of new additions or reforms with a more social focus.”

In its decision, the council removed six provisions and rejected a bid to hold a citizens’ referendum on the changes.

This story originally appeared in the April 17, 2023 newsletter, Fair Weather Friend.