Courtesy of Mish.
The BBC reports France’s Hollande to lower state pension age to 60
New French president Francois Hollande has unveiled details of a plan to lower the retirement age to 60 for some workers – a key election pledge.
His predecessor, Nicolas Sarkozy, had faced strong opposition when he raised the retirement age by two years to 62.
The move in 2010 sparked weeks of strikes across the country, mainly by public service workers.
The decision comes as the EU warns that France will struggle to meet its fiscal targets without spending cuts.
Jean-Francois Cope, head of the conservative UMP party, said Francois Hollande was “burying his head in the sand”.
Mr Sarkozy’s reforms had been welcomed by financial markets and credit ratings agencies concerned about France’s ability to cut its debt and deficit levels.
The European Commission warned last week that any changes in the French pension system had to be closely monitored.
Nannycrat Conflict Coming Right Up
The nannycrats in Brussels want to dictate and harmonize everything from tax rates (allegedly Ireland is too low), fiscal policy, immigration policy, work rules, interest rates, retirement age, tariffs, and crop subsidies.
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