FRANCE: On Monday, Labour Day, France’s President Emmanuel Macron met with widespread protests as he tries to move past the extremely unpopular decision to raise the retirement age, which has sparked a wave of social unrest.
Following his confrontation with labour unions, widespread strikes, and his decision to raise the retirement age by two years to 64, Macron’s popularity has plummeted to almost record lows, where agreements were made amid the “Yellow Vest” issue.
The action was a focal point for resentment towards President Macron, who has been met with jeers, pot-banging, and heckling in public places. Unions anticipate a march through towns and cities on Monday, involving more than 1 million people.
Sophie Binet, the head of the hard left CGT union, declared that May 1st would mark a turning point. She stated that it would be a declaration that we won’t move forward until this reform (pertaining to pensions) is dropped.
Laurent Berger, the leader of the CFDT union, claimed that Macron’s administration was deaf to the demands of one of the most significant social movements in recent memory.
However, he stressed that this did not mean the end of negotiations with the government. Macron believes the reform is necessary to maintain the financial viability of one of the most generous pension systems in the industrialised world.
The average French man spends more time in retirement than other OECD countries, and French pension benefits are higher than other countries. However, unions argue that there are other places to find the money. Macron’s government, which does not hold a majority in the legislature, forced the pension law through without a final vote.
Macron’s reform plan, such as an employment bill, could become more difficult if the political opposition becomes more adamant. Fitch lowered France’s sovereign credit rating from ‘AA-‘ to ‘AA-‘ on Friday, citing the risks to the French President’s programme from the potential political impasse and societal upheaval.
Also Read: Protests Reflect How Severely Israelis Distrust their Government: Rothman
