
The French Prime Minister, François Bayrou, is facing increased pressure as his pension reform “conclave” concluded without an agreement after four months of closed-door negotiations. The lack of a deal has prompted Bayrou to call for a last-ditch effort to salvage an agreement by summoning trade unions and industry representatives. Yvan Ricordeau, a representative from one of France’s largest unions, the CFDT, stated, “There won’t be an agreement.” This comes after industry representatives refused to budge on key union demands, such as allowing earlier retirement for those with harsher working conditions or physically demanding jobs.
Patrick Martin, president of Medef, reiterated the stance of industry representatives, saying that any changes should not increase costs for employers. Labor representatives have pushed for employers to contribute more to pension funds to help keep them solvent and potentially bring the retirement age back down to 62, after a law passed two years ago raised it to 64 for most workers. The talks gave Bayrou some leeway with the opposition, which refrained from voting to topple his minority government while the process was underway.
Previous Post