Summary
French Prime Minister Sébastien Lecornu announced that he supports pausing President Emmanuel Macron's pension reforms. The reforms, which increased the retirement age from 62 to 64, have faced opposition and led to confidence votes against Lecornu's government. Lecornu’s decision aims to gain support from Socialist MPs to avoid government collapse.
Key Facts
- French PM Sébastien Lecornu supports pausing the 2023 pension reform.
- The reform raised the retirement age from 62 to 64.
- Confidence votes against Lecornu are scheduled for later this week.
- The suspension could cost €400 million in 2026 and €1.8 billion in 2027.
- Socialist MPs may support Lecornu’s government if the reform is suspended.
- The reform was passed without a parliamentary vote using a special rule.
- France has a public debt of €3.4 trillion, about 114% of its GDP, the third highest in the eurozone.
