French president Nicolas Sarkozy's contentious measure to raise the state pension age from 60 to 62 has been passed by the second chamber.
France's Constitutional Council approved the pension bill today, saying it does not breach constitutional rules despite bitter opposition from the left. The reform, designed to cut the pension deficit, comes after months of trade union strikes across France that shut down train lines and airports as well as disrupting fuel supplies. The president's popularity ratings have hit an 18-month low in the electorate, but improved his standing within his own party, the UMP, Reuters reports.
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes