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Free AccessUnion Head-Talks w/PM Borne Unsuccessful, 'We Will Keep Up Protests'
As was largely expected, France's major trade union federations have announced that talks with PM Elisabeth Borne and other Cabinet ministers have been unsuccessful, with protests and strikes set to continue. Unions stated that they urged Borne to drop the raising of the retirement age, but she refused. They stated that that would not return to the negotiating table unless this stance changed.
- The head of the moderate CFDT federation Laurent Berger states that 'We are going through a grave democratic, social crisis [...] public opinion on pension reform has not shifted [...] our determination to fight [pension] reform is unchanged [...] I call on workers, citizens to join protests against [the] reforms tomorrow."
- Leftist CGT head Sophie Binet: [The PM] chose to send us back to the streets. We have to keep up the protests until the gov't understands that there is no other way than withdrawing the reform...Labour unions remain united in the fight against pensions reform."
- Prospects of unions backing down in short-to-medium term looks slim. Despite long-standing animosity between CFDT and CGT - France's two largest union federations - Berger and new CGT head Binet are looking to set aside divisions in order to maintain unity in the face of the pension reforms. This risks the strikes hitting many sectors of the economy continuing through spring into summer.
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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.