French Austerity Leaders Bludgeoned By 400,000 Protesters

French Protestor

French President Nicolas Sarkozy is learning the hard way that trying to fix France’s unsustainable pension system is political suicide.

His UMP party has been slaughtered at the polls and now from 380,000 – 800,000 people have taken to the streets in an attempt to finish the job. (the French government counts 380,000 while unions count 800,000)

It’s all because he’s trying to bring the French budget under control in both the short- and long-term by increasing France’s retirement age, reforming public sector benefits, and cutting spending.

In the end, Eurozone problems extend far beyond Greece.

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