French pension crisis continues as unions warn of more strikes
26 Oct 2010
Europe's second largest economy is still reeling under the strikes over French President Nicolas Sarkozy's plans to raise the state pension age. Unions from numerous industry sectors have joined the growing strikes against unpopular pension reforms.
Tomorrow, the National Assembly is expected to bring into law an increase in the minimum retirement age by two years to 62.
The reform bill passed the upper house of parliament on Friday, as 177 voted for the bill against 153 protesting ballots (See: French pension reforms invite union wrath).
Sarkozy insists pension reform is required to keep the system from going broke.
A majority of French citizens, however, oppose the legislation. An opinion poll released on Sunday found that fewer than 30 per cent of those surveyed were satisfied with President Sarkozy's performance - the lowest level since he took office in 2007.
According to latest reports, a quarter of the France's oil refineries have voted to end their strike. The government had warned on Monday that the disruption was threatening the country's fragile economic recovery.
