Macron's Pension Reform Sparks Protests, Political Turmoil Over Retirement Age Hike
September 4, 2024Emmanuel Macron's pension reform, which raised the retirement age from 62 to 64, has become a highly sensitive and divisive issue in France.
The reform has sparked widespread protests, with thousands of citizens voicing their opposition to the age increase.
The National Front Popular (NFP) is pushing to repeal the legal retirement age of 64 and may collaborate with the National Rally (RN) to advance this legislation.
A significant number of deputies from the NFP and RN are advocating for the repeal of the age increase, indicating strong political support for this move.
Reversing the pension reform would be perceived as a sign of weakness for Macron, as it is seen as a key political marker of his presidency.
Amidst this political turmoil, Macron faces pressure to select a new Prime Minister who can navigate the reformed Assembly while upholding the unpopular reform.
Members of the Ensemble pour la République group stress that any amendments to the law must align with the initial budgetary trajectory, noting that removing the age increase would incur a cost of 14 billion euros annually.
Maintaining the current pension reform is considered a 'red line' for Macron's supporters, emphasizing the stakes involved.
Moody's has warned that repealing the pension reform could negatively impact France's credit rating, adding another layer of complexity to the situation.
The Élysée is working to preserve the essence of the reform by highlighting its social advancements, such as gradual pension increases for lower-income retirees.
Sylvain Maillard, a deputy from Ensemble pour la République, has stated that the decision to uphold the pension reform is essential to avoid economic failure.
As discussions continue, the National Rally plans to leverage its parliamentary opportunities to vote on repealing the pension reform, potentially aligning with the New Popular Front.
Summary based on 4 sources