logo
French PM opposes calls to go back to 62 as retirement age

French PM opposes calls to go back to 62 as retirement age

Reuters16-03-2025

PARIS, March 16 (Reuters) - Prime Minister Francois Bayrou on Sunday rejected the idea of reverting to 62 as the basic retirement age in France, appearing to narrow options for unions and employers negotiating changes to an unpopular pension reform.
Bayrou, who heads a fragile minority government, agreed to reopen discussion of the 2023 reform, including the contested measure to raise the retirement age from 62 to 64 years, to help secure tacit support in parliament from opposition Socialists.
He tasked union and company representatives to discuss changes, saying all options were on the table provided proposals would ensure a funding deficit would be plugged.
Asked in an interview on France Inter radio if it was possible to go back to retirement at 62, he said, "No."
"The representatives in the social conference know very well what the numerical situation is and which I asked the Court of Accounts to set out," Bayrou said, referring to a report by France's audit office projecting future deficits even after the 2023 reform.
At the same time, he did not see retirement age as the only path for reforming the pension system, he said.
If unions and employers fail to agree to proposals, the government plans to proceed with implementing the 2023 reform.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oil hits five-month high after US hits key Iranian nuclear sites
Oil hits five-month high after US hits key Iranian nuclear sites

Reuters

time5 minutes ago

  • Reuters

Oil hits five-month high after US hits key Iranian nuclear sites

SINGAPORE, June 23 (Reuters) - Oil prices jumped on Monday to their highest since January as Washington's weekend move to join Israel in attacking Iran's nuclear facilities stoked supply worries. Brent crude futures rose $1.88 or 2.44% at $78.89 a barrel as of 1122 GMT. U.S. West Texas Intermediate crude advanced $1.87 or 2.53% at $75.71. Both contracts jumped by more than 3% earlier in the session to $81.40 and $78.40, respectively, five-month highs, before giving up some gains. The rise in prices came after U.S. President Donald Trump said he had "obliterated" Iran's main nuclear sites in strikes over the weekend, joining an Israeli assault in an escalation of conflict in the Middle East as Tehran vowed to defend itself. Iran is OPEC's third-largest crude producer. Market participants expect further price gains amid mounting fears that an Iranian retaliation may include a closure of the Strait of Hormuz, through which roughly a fifth of global crude supply flows. Iran's Press TV reported that the Iranian parliament approved a measure to close the strait. Iran has in the past threatened to close the strait but has never followed through on the move. "The risks of damage to oil infrastructure ... have multiplied," said Sparta Commodities senior analyst June Goh. Although there are alternative pipeline routes out of the region, there will still be crude volumes that cannot be fully exported out if the Strait of Hormuz becomes inaccessible. Shippers will increasingly stay out of the region, she added. Brent has risen 13% since the conflict began on June 13, while WTI has gained around 10%. The current geopolitical risk premium is unlikely to last without tangible supply disruptions, analysts said. Meanwhile, the unwinding of some of the long positions accumulated following a recent price rally could cap an upside to oil prices, Ole Hansen, head of commodity strategy at Saxo Bank, wrote in a market commentary on Sunday.

China says US attack on Iran has damaged its credibility
China says US attack on Iran has damaged its credibility

Reuters

time37 minutes ago

  • Reuters

China says US attack on Iran has damaged its credibility

HONG KONG, June 23 (Reuters) - China said the United States' attack on Iran's nuclear facilities has damaged its credibility and it was concerned that the situation "may go out of control", its state broadcaster reported, following a U.N. Security Council meeting on Sunday. President Donald Trump said the U.S. had "obliterated" Tehran's key nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution. The U.N. Security Council met on Sunday to discuss U.S. strikes on Iran's nuclear sites as Russia, China and Pakistan proposed the 15-member body adopt a resolution calling for an immediate and unconditional ceasefire in the Middle East. China's U.N. Ambassador Fu Cong said parties should restrain "the impulse of force, avoid exacerbating conflicts and adding fuel to the fire," according to the state broadcaster CCTV. Fu said parties, especially Israel, "should immediately cease fire to prevent the situation from escalating and avoid the spillover of war."

From fallen giants to giant-killers: Botafogo's remarkable revival
From fallen giants to giant-killers: Botafogo's remarkable revival

Reuters

time42 minutes ago

  • Reuters

From fallen giants to giant-killers: Botafogo's remarkable revival

June 22 (Reuters) - Once Brazilian football royalty, Botafogo had languished for decades as a debt-ridden sleeping giant before they toppled Paris St Germain at the Club World Cup to cap a resurrection tale three years in the making. When American entrepreneur John Textor acquired the club in 2022, fresh from their promotion back to Brazil's first division, he took on a training ground so decrepit that then-coach Luis Castro dismissed it as "good for parking cars," alongside crushing liabilities exceeding one billion reais ($181.39 million). Botafogo were a storied but shattered institution. The club that once nurtured Brazilian greats - Garrincha, Zagallo, Jairzinho and Nilton Santos, architects of three World Cup triumphs - was drowning in debt, having endured the humiliation of relegation three times in just over a decade. On Thursday, they outplayed European champions Paris St Germain to win 1-0 in the Club World Cup's most eye-catching upset, propelling themselves to the top of the tournament's "group of death" and on the verge of the knockout stage. Their squad, assembled through shrewd bargain-hunting in football's forgotten corners, now faces Diego Simeone's Atletico Madrid in Los Angeles on Monday, sitting comfortably, knowing even a two-goal defeat would still secure their passage to the round of 16. The victory over PSG vindicated Textor's vision, outlined in a Reuters interview three years prior, of "beating the system" through astute scouting in under-explored talent pools. The architects of Thursday's victory exemplified this approach. Match-winner Igor Jesus arrived as a free agent after three anonymous years in the UAE and was transformed into a Brazil international. Argentine defender Alexander Barboza, who neutralised PSG's vaunted attack, was plucked from Paraguay's Club Libertad for nothing. Captain Marlon Freitas came from second-division Atletico Goianiense, while experienced European campaigners Alex Telles and Allan were revitalised after spells in Middle Eastern leagues. Gregore, Jefferson Savarino, John and Cuiabano were all signed for under two million euros ($2.30 million) each. "The goal is to be sustainably competitive every year," Botafogo CEO Thairo Arruda told Reuters. "With a top six payroll, we produce like a top three." The transformation extends far beyond the pitch. Revenues have soared from 140 million reais in 2022 to projected earnings exceeding 1.1 billion by 2025, while liabilities have been slashed by 40%. Textor's Eagle Football empire also encompasses stakes in Ligue 1's Olympique Lyonnais and Premier League Crystal Palace. Botafogo's renaissance - crowned by last year's domestic and continental double - has breathed new life into a club motto once heavy with self-pity: "There are things that only happen to Botafogo." After outclassing Europe's elite, those words now carry an altogether sweeter resonance. ($1 = 5.5129 reais) ($1 = 0.8702 euros)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store