Fourth day of pension reform protests hits France

By AP News

Share:

Police are out in force across France as protesters hold a fourth round of nationwide demonstrations against President Emmanuel Macron’s plans to reform the country’s pension system

France Pension Protest

PARIS (AP) — Police were out in force across France on Saturday as protesters held a fourth round of nationwide demonstrations against President Emmanuel Macron’s plans to reform the country's pension system.

Hundreds of thousands of people were expected in the course of the day to march in Paris, Nice, Marseille, Toulouse, Nantes and other cities in hopes keeping up the pressure on the government to back down.

The demonstrations drew young people and others opposed to the pension proposals who weren’t able to attend the previous three days of action, all held on weekdays.

This time, though, rail worker strikes did not accompany the demonstrations, allowing trains and the Paris Metro to run Saturday. However, an unexpected strike by air traffic controllers meant that up to half of flights to and from Paris’ second largest airport, Orly, were canceled Saturday afternoon.

In Paris, some workers and students who wanted to voice opposition attended the protests for the first time, owing to heavy weekday workloads.

“We often hear that we should be too young to care, but with rising inflation, soaring electricity price, this reform will impact our families,” Elisa Haddad, 18. said. “It is my first demonstration because I couldn’t attend with uni. It is important that the voice of (France’s) parents and students is heard.”

French lawmakers began a rowdy debate earlier this week on the pension bill to raise the minimum retirement age for a full state pension from 62 to 64. It’s the flagship legislation of Macron’s second term.

Saturday's protests began peacefully, although Paris police said they arrested one person for possession of a firearm and detained several others for vandalism.

Some demonstrators walked as families through the French capital's Place de la Republique and carried emotional banners. “I don’t want my parents to die at work,” read one, held by a teenage boy.

The protests are a crucial test both for Macron and his opponents. The government has insisted it’s determined to push through Macron’s election pledge to reform France’s pension system, one of the most generous in the world.

The president has called the reforms “indispensable” for ensuring the long-term survival of the country’s pension system and noted that workers in neighboring countries retire years later.

Despite opinion polls consistently showing growing opposition to the reform and his own popularity shrinking, Macron insisted that he’s living up to a key campaign pledge he made when he swept to power in 2017 and before his April 2022 reelection.

His government is now facing a harsh political battle in parliament that could span weeks or months.

Strong popular resentment will strengthen efforts by labor unions and left-wing legislators to try to block the bill.

Unions issued a joint statement Saturday, calling the government “deaf” and demanding French officials scrap the bill. They threatened to cause a nationwide “shutdown” from March 7, if their demands were not met.

A further strike is planned for Feb. 16.

The last day of protests, four days ago, saw over 750,000 people marching, representing significantly fewer than on the previous two protest days in January in which over a million people took to the streets.

___

Nico Garriga in Paris contributed

Share:

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

Sign up for Investing Intel Newsletter