French PM offers concession to unions over pension reform



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French PM offers concession to unions over pension reform

After suffering major blows to its economy following a nearly five-week long strikes at different parts of the Europe’s second-largest economy behind Germany excluding United Kingdom over a slated pension reform, French PM Edouard Philippe had offered a major concession to labour unions opposing the French Government’s sweeping reform of current pension policy on Saturday, the 11th of January 2020, remarking the first sign of the French Government to sway away from its strident stance over the pension reform.

Aside from that, latest concession offer from French PM Philippe came forth a day after the two of the largest labours’ union in France had extended their strikes in French refineries up to January 16th in a bid to step up pressures on the Government to set aside the pension reforms, which would likely to require some of the workers in France to work until the age of 64 and to curb some major facilities for the railway workers.

Meanwhile, adding that he was prepared to set aside a plan to raise the minimum retirement age to 64 to obtain full pension benefits if certain conditions were met, PM Philippe said in a letter to the unions and employers, “The compromise that I’m offering ... seems to me the best way to peacefully reform our retirement system. ”