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Round Two: French pension reform strikes

For the second time in a month, French workers held mass protests on Tuesday against the government’s proposed pension reform, which would raise the minimum retirement age from 62 to 64. Organized by the country’s eight big trade unions, authorities say as many as 1.27 million protesters hit the streets nationwide, bringing Paris to a standstill and closing schools throughout France. (Unions say the number was higher.) Meanwhile, President Emmanuel Macron is sticking to his guns, saying that incrementally raising the national retirement age by 2030 is crucial to reducing France’s ballooning deficit. (Currently, 14% of France’s public spending goes toward its pension program – the third-highest of any OECD country.) But for Macron, this is about more than just economics; his political legacy is on the line. Indeed, the ideological chameleon came to power in 2017 as a transformer and tried to get these pension reforms done in 2019, though he was ultimately forced to backtrack. But as Eurasia Group Europe expert Mujtaba Rahman points out, protesters’ “momentum is the key” and could determine whether legislators from the center-right back Macron or get swayed by the vibe on the street. This would force him to go at it alone using a constitutional loophole, which never makes for good politics. More demonstrations are planned for Feb.7 and Feb. 11.