The Intelligence from The Economist Not shy about retiring: strikes in France
Dec 5, 2019
Tom Gardner, The Economist's East Africa correspondent, dives into the unfolding national strike in France, sparked by proposed but undisclosed pension reforms. He sheds light on the widespread public dissent and its impact on daily life. Shifting focus, Gardner also explores the tumultuous situation in Darfur, where cautious optimism for peace contrasts with ongoing humanitarian challenges. Lastly, he shares inspiring stories of entrepreneurial refugees, showcasing their resilience and critical role in revitalizing local economies.
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French Pension Strike
- French workers are striking over pension reforms, even before details are released.
- The reforms aim to simplify the complex system, not cut costs, causing confusion and concern.
Early Retirement Privileges
- Some French workers, like railway employees, can retire as early as 55 under special regimes.
- These privileges, a legacy from earlier times, are a source of contention in the pension reforms.
Cost of French Pensions
- The French pension reform isn't about cutting costs but simplifying the system.
- France spends 14% of GDP on pensions, with average retirement incomes higher than pre-retirement.