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January 14, 2020
Is France beyond reform?
The events in Iran have sucked all the oxygen out of other stories and dominates news coverage. But it is still a big world out there with all sort of things happening. Take France, for instance. A short while ago, French president Emmanuel Macron proposed much needed reforms to France's pension system, which the government is mainly responsible for maintaining. The pension system is said to be generous and is now facing a $19-billion deficit. The reforms that Macron proposed were modest. It was basically to raise the retirement age from 62 to 64 and to standardize pensions across the country. Well, the roof caved in. As the New York Times reports, massive strikes, marches, and demonstrations across the country ensued, convulsing the economy. YouTube screen grab (cropped). This forced "Macron's government to carve out a series of concessions to individual professions in recent...(Read Full Post)