The China Mail - French court approves core of Macron's pensions reform

USD -
AED 3.672504
AFN 65.000368
ALL 81.093924
AMD 362.340403
ANG 1.789785
AOA 917.000367
ARS 1509.516079
AUD 1.435956
AWG 1.80125
AZN 1.70397
BAM 1.737184
BBD 2.014096
BDT 123.013106
BGN 1.747831
BHD 0.378215
BIF 2992.951961
BMD 1
BND 1.279251
BOB 11.674683
BRL 5.065104
BSD 0.999987
BTN 94.90991
BWP 13.69981
BYN 3.011418
BYR 19600
BZD 2.0112
CAD 1.41535
CDF 2313.50392
CHF 0.82398
CLF 0.024996
CLP 983.780396
CNY 6.691204
CNH 6.686704
COP 3183.72
CRC 454.426349
CUC 1
CUP 23.999751
CVE 97.94238
CZK 21.645304
DJF 177.720393
DKK 6.651204
DOP 61.341138
DZD 133.824668
EGP 53.160165
ERN 15
ETB 163.338263
EUR 0.889904
FJD 2.26765
FKP 0.754433
GBP 0.7503
GEL 2.590391
GGP 0.754433
GHS 11.677347
GIP 0.754433
GMD 73.503851
GNF 8797.182486
GTQ 7.640687
GYD 209.212677
HKD 7.84855
HNL 26.844726
HRK 6.703804
HTG 130.951694
HUF 323.310388
IDR 18053
ILS 3.09465
IMP 0.754433
INR 94.95905
IQD 1515.928036
IRR 1795877.503816
ISK 121.180386
JEP 0.754433
JMD 158.956162
JOD 0.70904
JPY 158.00504
KES 129.760385
KGS 87.450384
KHR 4064.466561
KMF 440.00035
KPW 899.999961
KRW 1334.740383
KWD 0.31082
KYD 0.833322
KZT 452.525504
LAK 22500.033308
LBP 89547.588277
LKR 331.200064
LRD 170.494162
LSL 16.438047
LTL 2.95274
LVL 0.60489
LYD 6.422014
MAD 9.715273
MDL 17.939255
MGA 4500.539585
MKD 54.760329
MMK 2099.795777
MNT 3598.409679
MOP 8.084042
MRU 39.978149
MUR 47.230378
MVR 15.460378
MWK 1733.994173
MXN 18.492904
MYR 4.083204
MZN 63.903729
NAD 16.437609
NGN 1331.210377
NIO 36.800007
NOK 9.427704
NPR 151.850816
NZD 1.767097
OMR 0.382413
PAB 0.999951
PEN 3.43973
PGK 4.540711
PHP 62.986038
PKR 276.827454
PLN 3.88825
PYG 5711.26576
QAR 3.65521
RON 4.730604
RSD 105.038038
RUB 82.631321
RWF 1475.944949
SAR 3.752528
SBD 8.064647
SCR 14.026038
SDG 601.503676
SEK 9.912404
SGD 1.282204
SHP 0.754745
SLE 24.680371
SLL 20969.504398
SOS 571.476789
SRD 37.794504
STD 20697.981008
STN 21.762012
SVC 8.750105
SYP 13001.999685
SZL 16.431068
THB 33.403646
TJS 9.214897
TMT 3.51
TND 2.983182
TOP 2.40776
TRY 49.514038
TTD 6.788709
TWD 32.453604
TZS 2639.998038
UAH 44.854439
UGX 4130.267757
UYU 40.255282
UZS 12055.266629
VES 878.910604
VND 25894.5
VUV 119.436793
WST 2.780879
XAF 583.738825
XAG 0.017551
XAU 0.000240063761
XCD 2.70255
XCG 1.80225
XDR 0.707052
XOF 583.738825
XPF 105.932147
YER 236.150363
ZAR 16.49391
ZMK 9001.203584
ZMW 20.019452
ZWL 321.999592
SSP 5790.440039
MXV 2.088032
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

French court approves core of Macron's pensions reform
French court approves core of Macron's pensions reform / Photo: © POOL/AFP

French court approves core of Macron's pensions reform

France's constitutional court on Friday approved the key elements of President Emmanuel Macron's pension reform, paving the way for him to implement the unpopular changes that have sparked months of protests and strikes.

Text size:

The nine-member Constitutional Council ruled in favour of key provisions, including raising the retirement age to 64 from 62, judging the legislation to be in accordance with the law.

Six minor proposals were rejected, including efforts to force large companies to publish data on how many people over 55 they employ, and a separate idea to create a special contract for older workers.

The decision represents a victory for Macron, but analysts say it has come at a major personal cost for the 45-year-old while causing months of disruption for the country with sometimes violent protests that have left hundreds injured.

The president's personal ratings are close to their lowest-ever level, and many voters have been outraged by his decision to defy hostile public opinion and ram the pensions law through the lower house of parliament without a vote.

"Stay the course, that's my motto," Macron said on Friday as he inspected restoration efforts at the Notre-Dame cathedral, four years after a devastating fire gutted the Gothic masterpiece.

Police are expecting up to 10,000 people to gather again in Paris on Friday night, with the presence of several hundred leftwing radicals raising fears of more vandalism and clashes that have marred recent rallies.

The Constitutional Council, a short walk from the Louvre museum in the centre of the French capital, has been protected with barriers, and dozens of riot police are on guard nearby.

- Opponents -

It remains to be seen if the months-long effort to block the changes by trade unions will continue, with labour leaders saying they would respect the court decision on Friday and support among regular workers waning.

"The fight continues and must gather force," the leader of the hard-left France Unbowed (LFI) party, Jean-Luc Melenchon, wrote on Twitter.

Far-right National Rally (RN) figurehead Marine Le Pen added that the fate of the reform was "not sealed" despite Friday's decision.

Last month, a strike by Paris garbage workers left the capital strewn with 10,000 tonnes of uncollected rubbish, while train services, oil refineries and schools have been affected by regular stoppages since January.

Some 380,000 people took to the streets nationwide on Thursday in the latest day of union-led action, according to the interior ministry.

But that was a fraction of the nearly 1.3 million who demonstrated at the height of the protests in March.

In a second decision on Friday, the court rejected a bid from opposition lawmakers to force a referendum on an alternative pension law that would have kept the retirement age at 62.

France currently lags behind most of its European neighbours, many of which have hiked the retirement age to 65 or above.

Opponents of the law say it is unfair on unskilled workers who started working early in life, while critics also say it undercuts the right of workers to a long retirement.

The average life expectancy in France is 82.

- 'Necessary' change? -

Senior ruling party MP Eric Woerth spoke for many government supporters on Friday when he said he hoped the country would end up acknowledging the need for the change, but he admitted that "we have not convinced people."

Polls have consistently shown that two out of three French people are against working another two years.

"Once the volcano has cooled down and people look at things with a bit more distance, maybe in the back of their minds they'll say, 'maybe they were right'... the French pension system needed unpopular decisions to conserve it," he told Europe 1 radio.

Macron has repeatedly called the change "necessary" to avoid annual pension deficits forecast to hit 13.5 billion euros by 2030, according to government figures.

"I'm proud of the French social model, and I defend it, but if we want to make it sustainable we have to produce more," he said Wednesday during a trip to the Netherlands.

"We have to re-industrialise the country. We have to decrease unemployment and we have to increase the quantity of work being delivered in the country. This pension reform is part of it."

B.Carter--ThChM