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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Breaking News

Breaking News

French unions urge force as Macron’s pension change nears completion.

Photo Credit: Morris MacMatzen Photo Credit: Morris MacMatzen
Photo Credit: Morris MacMatzen Photo Credit: Morris MacMatzen

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On Wednesday, Paris’ garbage piled up, liquefied natural gas operations were halted, and rail services were canceled as President Emmanuel Macron’s pension overhaul reached its finish in parliament. Trade unions urged a show of force.

Since mid-January, a broad alliance of unions has called for an eighth day of nationwide street protests over Macron’s intention to increase the retirement age to 64.

The pension reform measure goes to a joint parliamentary committee where lower and upper chamber legislators will seek a compromise text on Wednesday before a final vote in the Senate and National Assembly on Thursday.

Macron’s camp scrambled for votes in the assembly, lacking an absolute majority and relying on the conservative Les Republicains party, which is divided on the subject.

Olivier Veran, a government spokesperson, told Europe 1 radio that the National Assembly vote would not be simple or panicked.

Macron and his team think pension reforms are needed to balance the pension budget. The president’s financial and reformist reputations are at stake.

Governing party officials recognized the tight numbers.

If things get too close, the government can use 49:3 to pass the text without a vote. If the vote failed, it would risk street outrage but prevent a no-confidence motion in parliament.

Prime Minister Elisabeth Borne told the parliament she wanted a vote on Tuesday, but the unions refused.

Laurent Berger, chairman of the reform-minded CFDT union, told BFM TV that this change is unjust, violent, and widely opposed.

Due to municipal waste collectors ‘ two-week strike, Paris has over 6,000 tonnes of garbage. France’s energy industry has suffered too.

Elengy, an Engie (ENGIE.PA) affiliate, and trade sources reported lengthy blockages at four LNG terminals.

Since the strike began, many LNG tankers coming to France have shifted course to ports in Britain, the Netherlands, and Spain. Closing the terminals for another week would seriously damage France’s capacity to sell gas to neighboring nations.

TotalEnergies stated its oil refineries and gasoline depots were shut. Esso’s Fo’s refinery couldn’t ship either.


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