Berliner Boersenzeitung - French Senate approves pensions reform as protests appear to lose steam

EUR -
AED 4.029728
AFN 75.48207
ALL 98.678122
AMD 426.359814
ANG 1.98545
AOA 1012.639275
ARS 1071.66059
AUD 1.613883
AWG 1.974811
AZN 1.861123
BAM 1.953783
BBD 2.224304
BDT 131.644087
BGN 1.956245
BHD 0.413273
BIF 3196.100251
BMD 1.097117
BND 1.429924
BOB 7.612141
BRL 5.985648
BSD 1.101663
BTN 92.439563
BWP 14.571955
BYN 3.605178
BYR 21503.499151
BZD 2.220507
CAD 1.490226
CDF 3149.823807
CHF 0.941908
CLF 0.036753
CLP 1014.120826
CNY 7.700112
CNH 7.788656
COP 4569.734935
CRC 571.410059
CUC 1.097117
CUP 29.073609
CVE 110.151277
CZK 25.339892
DJF 196.167471
DKK 7.455428
DOP 66.2516
DZD 146.286969
EGP 53.050419
ERN 16.45676
ETB 131.788138
FJD 2.427317
FKP 0.83552
GBP 0.836108
GEL 3.00636
GGP 0.83552
GHS 17.428007
GIP 0.83552
GMD 75.700945
GNF 9511.180376
GTQ 8.524199
GYD 230.472054
HKD 8.520751
HNL 27.392719
HRK 7.459313
HTG 145.25004
HUF 401.425311
IDR 17191.828148
ILS 4.184301
IMP 0.83552
INR 92.188627
IQD 1443.11009
IRR 46194.123705
ISK 148.911989
JEP 0.83552
JMD 174.070285
JOD 0.777308
JPY 163.12601
KES 141.528269
KGS 92.923696
KHR 4471.383611
KMF 492.550804
KPW 987.404951
KRW 1477.674246
KWD 0.33608
KYD 0.918052
KZT 532.030716
LAK 24325.885236
LBP 98650.550251
LKR 323.545962
LRD 212.610495
LSL 19.24603
LTL 3.239502
LVL 0.663635
LYD 5.253576
MAD 10.775375
MDL 19.328045
MGA 5045.790576
MKD 61.556447
MMK 3563.394206
MNT 3728.004548
MOP 8.809505
MRU 43.612973
MUR 51.00448
MVR 16.840387
MWK 1910.227824
MXN 21.158165
MYR 4.66
MZN 70.094909
NAD 19.24603
NGN 1818.866671
NIO 40.538147
NOK 11.710603
NPR 147.9033
NZD 1.781353
OMR 0.422423
PAB 1.101663
PEN 4.103763
PGK 4.38747
PHP 61.795137
PKR 305.700985
PLN 4.317485
PYG 8587.134388
QAR 4.016653
RON 4.980249
RSD 116.898311
RUB 105.002135
RWF 1492.559038
SAR 4.121081
SBD 9.082719
SCR 16.467941
SDG 659.908171
SEK 11.382164
SGD 1.431406
SHP 0.83552
SLE 25.066171
SLL 23005.995657
SOS 629.550034
SRD 34.228251
STD 22708.113114
SVC 9.639048
SYP 2756.540069
SZL 19.238138
THB 36.566868
TJS 11.732287
TMT 3.850882
TND 3.369921
TOP 2.56956
TRY 37.582949
TTD 7.471286
TWD 35.45771
TZS 2984.159458
UAH 45.353875
UGX 4039.829161
USD 1.097117
UYU 46.072433
UZS 14035.509325
VEF 3974365.068759
VES 40.581524
VND 27175.59561
VUV 130.25197
WST 3.069145
XAF 655.280469
XAG 0.034105
XAU 0.000414
XCD 2.965014
XDR 0.819254
XOF 655.280469
XPF 119.331742
YER 274.609166
ZAR 19.185998
ZMK 9875.368615
ZMW 29.000059
ZWL 353.271324
  • BCC

    0.6100

    138.9

    +0.44%

  • SCS

    0.3500

    12.97

    +2.7%

  • CMSD

    -0.0770

    24.813

    -0.31%

  • RELX

    -0.3200

    46.29

    -0.69%

  • RIO

    -0.1300

    69.7

    -0.19%

  • NGG

    -0.4700

    66.5

    -0.71%

  • RYCEF

    0.0000

    6.98

    0%

  • RBGPF

    58.9400

    58.94

    +100%

  • CMSC

    -0.0400

    24.7

    -0.16%

  • JRI

    -0.0200

    13.28

    -0.15%

  • BCE

    -0.1300

    33.71

    -0.39%

  • AZN

    -0.4600

    77.47

    -0.59%

  • VOD

    -0.0300

    9.66

    -0.31%

  • GSK

    0.4500

    38.82

    +1.16%

  • BP

    0.4200

    32.88

    +1.28%

  • BTI

    0.1800

    35.29

    +0.51%

French Senate approves pensions reform as protests appear to lose steam

French Senate approves pensions reform as protests appear to lose steam

France's Senate voted late Saturday to approve a deeply unpopular reform to the country's pension system, hours after demonstrators took to the streets to oppose the cornerstone policy of President Emmanuel Macron's second term in office.

Text size:

Senators passed the reforms by 195 votes to 112, bringing the package another step closer to becoming law. A committee will now hammer out a final draft, which will then be submitted to both the Senate and National Assembly for a final vote.

"An important step was taken this evening with a broad vote on the pension reform text in the Senate," Prime Minister Elisabeth Borne told AFP after the vote, adding that she believed the government had a parliamentary majority to get the reforms passed into law.

Should Macron's government fail to assemble the necessary majority, however, Borne could deploy a rarely used and highly controversial constitutional tool, known as article 49/3, to push the legislation through without a vote.

Unions, which have fiercely opposed the measures, still hoped on Saturday to force Macron to back down, though the day's protests against the reform were far smaller than some previous ones.

"This is the final stretch," Marylise Leon, deputy leader of the CFDT union, told the broadcaster Franceinfo on Saturday. "The endgame is now."

Tensions flared in the evening, with Paris police saying they had made 32 arrests after some protesters threw objects at security forces, with rubbish bins burned and windows broken.

This week, Macron twice turned down urgent calls by unions to meet with him in a last-ditch attempt to get him to change his mind.

The snub made unions "very angry", said Philippe Martinez, boss of the hard-left CGT union.

"When there are millions of people in the streets, when there are strikes and all we get from the other side is silence, people wonder: What more do we need to do to be heard?" he said, calling for a referendum on the pensions reform.

The interior ministry said some 368,000 people showed up nationwide for protests -- less than half of the 800,000 to one million that police had predicted.

In Paris, 48,000 people took part in rallies, compared to police forecasts of around 100,000.

Unions, who put the attendance figure at a million, had hoped turnout would be higher on a Saturday, when most people did not have to take time off work to attend. On February 11, also a Saturday, 963,000 people demonstrated, according to police.

On the last big strike and protest day on Tuesday, turnout was just under 1.3 million people according to police, and more than three million according to unions.

- 'Future of children' -

The reform's headline measure is a hike in the minimum retirement age to 64 from 62, seen by many as unfair to people who started working young.

"I'm here to fight for my colleagues and for our young people," said Claude Jeanvoine, 63, a retired train driver demonstrating in Strasbourg, in eastern France.

"People shouldn't let the government get away with this, this is about the future of their children and grandchildren," he told AFP.

The reforms would also increase the number of years people have to make contributions in order to receive a full pension.

Protesters say that women, especially mothers, are also at a disadvantage under the new reforms.

"If I'd known this was coming, I wouldn't have stopped working to look after my kids when they were small," said Sophie Merle, a 50-year-old childcare provider in the southern city of Marseille.

Several sectors in the French economy have been targeted by union calls for indefinite strikes, including in rail and air transport, power stations, natural gas terminals and rubbish collection.

On Saturday in Paris, urban transit was little affected by stoppages, except for some suburban train lines.

An opinion poll published by broadcaster BFMTV on Saturday found that 63 percent of French people approved of the protests against the reform, and 54 percent were also in favour of the strikes and blockages in some sectors.

Some 78 percent, however, said they believed that Macron would end up getting the reform adopted.

burs-jh/ea/jj/smw/ssy

(B.Hartmann--BBZ)