Key takeaways:
- Hundreds of thousands of people have been protesting the French government’s plans to raise the retirement age from 62 to 64.
- The protests have been ongoing for three months and have damaged President Emmanuel Macron’s leadership.
- The retirement age increase is part of Macron’s plan to simplify France’s complex pension system, but it has been met with fierce opposition from unions and other critics.
Hundreds of thousands of people took to the streets of France on Thursday to protest the government’s plans to raise the retirement age from 62 to 64. The protests continued on Friday, with demonstrators gathering in spots around the country, as the Constitutional Council, France’s equivalent of the US Supreme Court, approved the controversial legislation.
The protests have been ongoing for three months, and have damaged President Emmanuel Macron’s leadership. On Thursday, protesters in Paris forced their way into the headquarters of luxury giant LVMH, on the day shares in the company – which owns brands such as Louis Vuitton and Moët – jumped to a record high.
“If Macron wants to find money to finance the pension system, he should come here to find it,” Fabien Villedieu, a union leader, told CNN affiliate BFMTV outside the LVMH building.
The Constitutional Council rejected some other measures in the pension bill, but the higher age was central to Macron’s plan and the target of protesters’ anger. Macron’s political opponents vowed to maintain pressure on the government to withdraw the bill.
The protests have been a major challenge for Macron, who has been in office since 2017 and has been pushing for economic reforms. The retirement age increase is part of his plan to simplify France’s complex pension system, but it has been met with fierce opposition from unions and other critics. It remains to be seen how the government will respond to the continued protests.
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