Sarkozy can talk about cutting pensions, but if anti-cut strikes paralyze the economy the net effect will probably be negative.
Right now stocks are getting whacked, perhaps on these fears.
Railway and Paris subway workers and as well as teachers, air-traffic controllers and port and refinery employees walked out to protest plans to raise the retirement age to 62 from 60 and lift the age for a full pension to 67 from 65. Unions, which warn they may renew the strike every 24 hours unless the government backs down, said 244 marches will take place across France today in cities including Toulouse, Marseille and Nantes.
For comparison, Germany’s DAX is off just 0.6%.
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