France wants to adjust retirement age
26 May
French President Nicolas Sarkozy will seek to reduce France’s retirement age, according to aides, as workers set up a protest day against the proposal which is part of his unannounced austerity programme.
Facing the woes of sovereign debt crisis, several of France’s neighbours in Europe have declared massive cuts on spending in an attempt to lessen their piling deficits as well as restore the region’s stability.
Sarkozy has exercised more caution, insisting that the three-year freeze on spending isn’t an austerity measure. However, any threat to France’s traditional 60-year retirement age will have to overcome tough opposition.
The reduction of the minimum age to receive full-state pension from 65 years to 60 was among the key reforms made by Socialist president Francois Mitterrand’s government in 1984.
“This time, it’s war”, said the financial daily La Tribune after a series of leaks verified the long-suspected plan of Sarkozy to make later retirement among the key goals of his term’s second half.
Labour unions as well as left-wing opposition are gearing up with their response. France will be able to gauge their strength on Thursday, as they are set to hold large-scale rallies in the streets nationwide.
The right-wing governments’ attempts in the past decade to revamp state finance and lessen entitlements have been derailed most of the time by large-scale protests. However, Sarkozy’s backers insist that changes in pension are necessary.
