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Macron Still Faces Risks To Pension Reforms Despite Low Protest Numbers
Mujtaba Rahman at Eurasia Group on French strikes regarding pension reforms, edited comments below:
- "A third day of action/inaction against pension reform in France today was much feebler than its predecessors. Numbers striking and marching in the streets fell well below the first protests on 19 and 31 Jan. Good news for President Macron? Maybe. [...] BUT There is another day of strikes and marches on Saturday [...]. Another poor turnout and the momentum of protest may deflate."
- "That would help Macron and his PM Elisabeth Borne in parliament where they face screeching left and far right opposition to their attempts to raise the official pension age from 62 to 64 by 2030 [...] A 1st reading of pension reform is supposed to be guillotined through Assembly (lower house) by the end of next week."
- "The big street protests have given cold feet to some of Macron’s own centrist supporters and encouraged mischief-making among their on/off centre-right allies. As things stand, Macron and Borne still just about have the 289 votes they need but could yet lose key amendments which will hobble their legislation. A big turn out today would have made their parliamentary battle harder. All eyes now turn to Saturday."
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.