Skip to main content

Why there are massive protests in France?

 This all started in 2019 when French president proposed a law to raise the retirement age from 62 to 64 as France's retirement age is among the lowest in Europe. Overhauling pensions has long been a controversial issue in France, with street protests halting reform efforts in 1995, and the successive government's facing stiff resistance to changes that got eventually passed in 2004,2008 and 2010. however, union say it threatens hard-fought worker rights As France has an ageing population and growing life expectancy where everyone receives a state pension while the Macron government said, the reform is the only way to keep the system solvent.


The Pension Reform

The law stated that the minimum retirement age to be entitle to a full pension will be gradually increased by three month every year, starting from this year. Also starting from 2027, people will need to have worked for at least 43 years to get a full pension. However, there will be exception to this rule, for Police officers and Firefighters, anyone not putting in 43 years of work will have to work till age 67 in order to retire will full pension. From 2027 workers will have to make social security contributions over 43 years rather than 42 years in order to draw a full pension. Guaranteed minimum pension income of not less than 85% of the net minimum wage which is roughly €1200 per month at current levels. Public workers in jobs who have physical or mental illness will maintain the right to early retirement though their retirement age will be increased by the same number of years as the wider labour force. People who are Police officers, sewer cleanness, prison guard and air traffic controllers are among those currently able to retire at age 52 One of the highlights of this reform is that there is an increase in pensions for some. According to the latest proposal, the minimum pension for low-income workers who have a full career is likely to see  their pension rise by a minimum of €100 a month which is nearly 1200 at present currently than 2 million workers fall under this Category.


Why this reform is being criticized ?

"If there is no positive response from the government, today is a first step, and there will be second step", Philippe Martinez, the need of the CGT labour union. The trade union and left-wing parties of the country says that the proposed changes are not needed in order to fund France's pension system. Rather many have even suggested a rethinking of France's tax system and a crackdown on tan evasion instead. the reform come workers in France are being squeezed by rising food and energy bills. France spent at least 14% of its GDP on state pension in 2018, which is more than most other countries this is according to organization of Economic Cooperation and Development. Also some have pointed out the raising of retirement on career lengths will specifically affect the most vulnerable. for instance, women are set to be biggest losers with the new 43 years career requirement. The protests got sparked when the Prime


 Minister Elisabeth Borne, finally allows the government to force passage of a bill without a vote unless the parliament votes a vote DE censure motion of no confidence.

The Protests

Leaders of influential leftist CGT union have called on people to leave school, factories, refineries and other workplaces to force Macron to abandon his plan. Although the involvement of article 49:3 is a calculated risk angry protesters took over the streets in Paris on Friday. The lawmakers on the right and left filed no-confidence motions that are expected to be voted on early next week. Crowds


 gathered throughout the day Friday , halting cars along Paris ring road and blocking university campuses. Sanitation workers have extentded their 12- day strike, leaving piles of foul-smelling rubbish across the capital and blocking Europe's largest incineration site. Some 200 major protests were talking place across the country, with the largest in Paris. Thousand of protesters had gathered at the Epicenter, Paris iconic place de la Republique and they kept pouring in to show their discontentment.

Comments

Popular posts from this blog

Russian Government's decision to put nuclear weapons in Belarus.

 On Saturday, Russian President Vladimir Putin announced plans on Saturday to station nuclear weapons in neighboring Belarus, sending a warning to NATO over its support to Ukraine and escalating stand off with West. While, Putin said the move would not violate nuclear non-proliferation promises, it is one of Russia's pronounced nuclear signals since the start of the war. He also added that this move was triggered by Britain's decisions this past week to provide Ukraine   with armor-piercing rounds containing depleted uranium. In addition, Russia is presenting the deployment not just as a decision made by both countries,, but as a response to long-standing requests by Belarusian leader Alexander Lukashenko. This is Russia's tried-and-tested way of showing respect for its ally, previously cited when dispatching Russian troops to Belarus for training exercises both last February- ahead of the invasion - and in October. Tactical nuclear weapons are intended  for use on the ...

Why Credit Suisse shares are falling?

On March 15, credit Suisse shed a quarter of its value after its largest shareholder said it could not provide any more support. Saudi national Bank(SNB) who is the largest shareholder which hold about 9.9% credit Swiss, said it would not buy any more shares. According to the statement of SNB chairman Ammar Al Khudairy "we cannot because we would go above 10 per cent. Its a regulatory issue". After that the shares of credit Swiss dropped by as much as 30%, which leads to a fall of 7% in the European banking index. The stick has pummelled earlier in the week due to the collapse of US tech lender silicon valley Bank. The analysts of France said that the credit Suisse want a bailout by the Swiss National Bank and financial regulator FINMA, possibly one or more other banks. The analysts also said that the Saudi National Bank could do a U-turn.. Last year the Saudi National Bank has increased it stake in credit Suisse and committed to invest up to $1.5 dollars. On Tuesday the ban...

US-India Jet Engine Deal: A Boost for Both Countries

  US-India Jet Engine Agreement: A Boost for Both Countries The United States and India are close to finalizing an agreement to jointly manufacture fighter jet engines in India. The deal, which would involve General Electric (GE) partnering with state-owned Hindustan Aeronautics Limited (HAL), is seen as a significant step forward in India’s efforts to develop a domestic defence industrial base. Currently, India relies on imports for most of its fighter jet engines. The deal would allow India to produce advanced jet engines, which would give it greater self-reliance in the defence sector. It would also strengthen India’s strategic partnership with the US. The deal is still in the early stages of negotiations, but if it is successful, it would be a major boost for both countries. For the US, the deal would help to secure a long-term customer for its advanced jet engine technology. For India, the deal would help to meet its growing demand for fighter jets and would give it a more sec...