The French Constitutional Council approved, at least in its essential elements, the pension reform that Emmanuel Macron sought; This was another victory in his defense of the controversial measure that required the president to increase the retirement age from 62 to 64. The architecture of reform is secure, although some measures of the government project, such as the creation of a “seniority index”, have been rejected. Consisting of nine “sages”, the council also rejected the request of 250 French opposition deputies to hold a referendum on the new law. In this sense, a second request, which is still ongoing but made later, will have to be the subject of a new decision instead. On May 3, the Executive hopes that this result will surpass the protests that have plagued the country since mid-January with 12 strikes and restart Macron’s second five-year term, which was severely hampered in his first year. But the opposition and the unions are promising war.
The first comment of Jean-Luc Melenchon, leader of the radical left party France Insoumise, who condemned the Court’s decision, was “The struggle continues” and stated that the Constitutional Council would be “more sensitive to the needs of the presidency”. More monarchy than the ruling people”. Marine Le Pen, leader of the far-right Ressemblement Nationale, wrote on Twitter, “The fate of pension reform is yet to be determined.” Instead, French prime minister Elisabeth Borne said, “There are no winners or losers tonight.” Our pension system will be in balance in 2030. Now the government’s will is to continue consultation with the social partners to make work more meaningful, improve working conditions and achieve full employment.”
As the Constitutional Council’s decision was announced, large numbers of protesters gathered in front of the Paris city hall with banners that read “climate of anger” and “strikes will not end until the form is removed”. The government announced that the reform would be implemented as planned from September 1, but the fundamentalist unions and opposition warned they would not back down and urged Macron not to announce the reform.
Source: Today IT

Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.