French government prepares new pension cuts

[Hannah Bell]

On April 12, French Labor Minister Eric Woerth met with the trade unions and employers’ federations to map out further pension cuts. Proposed changes include lengthening the pay-in period beyond 41 years—currently the limit for workers retiring after 2012—and increasing the retirement age beyond 60, possibly to 65. The government has also announced that further consultation with the unions and employers will take place on April 22. It reportedly expects to implement the “reform” before the end of 2010.


The current pension “reform” is part of a broad attack on the working class to satisfy financial markets—similar to measures carried out by governments across Europe, including Greece, Ireland, Spain and Portugal, in the wake of the Greek debt crisis. After the outbreak of the world economic crisis in 2008, and France’s bank bailout, the French budget deficit has soared, reaching 8.2 percent of Gross Domestic Product this year.


The French government submitted its stability programme for the period 2010-2013 to the European Commission in early February. It foresees a reduction in the public deficit from 8.2 percent to 3 percent of GDP by 2013, entailing a cut in government spending on the order of €100 billion ($US 135 billion). The programme includes reductions in education and health care spending, pensions, unemployment benefits, and public sector employment.

http://www.wsws.org/articles/2010/apr2010/pens-a21.shtml

[ShortnFiery]

1. Prepare for the riots? Seriously, IMO, the French can protest better than any other nationality.

I don't believe in destruction and violence, but the French get their POLITICAL LEADER'S attention when the people are unhappy. I give them respect for that FACT! :thumbsup:

[fasttense]

2. They should lower their retirement age to what the US has - 70 years old.

For people in the US you have to be 70 years old to qualify for full Social Security retirement. If you retire early, any time before the age of 70, you get a 20 to 50 percent cut in benefits. If you wait until you are 70 years old, then you can get the full amount that you paid into Social Security.

So, here's to throwing 75lb. boxes at Wal-Mart until you are 69 years old. If it's good enough for Americans, it's good enough for the French. After all, we are the wealthiest nation on earth.

:sarcasm:

[blindpig]

3. So much for that vaunted 'socialism'

Socialism and Capitalism cannot co-exist, as long as the capitalist control the means of production and near all of the wealth they will use this strength to advance their agenda to the detriment of the rest of us.

k&r