Backwardization in France

Workers who entered employment aged 18 will be able to retire at 60 rather than 62, under the decree agreed at a cabinet meeting on Wednesday….

“We committed to put this measure in place quickly for social justice for those who started working early,” said Social Affairs Minister Marisol Touraine.

The reforms will cost the state billions of euros a year but can be afforded through higher worker and employer contributions, according to the government. telegraph

We are watching Greece and Spain hit the wall. Italy need not but may. Now M. Hollande is putting France into the crosshairs.

A 42 year working life would seem to be enough providing that during that working life a person has contributed enough to pay out the pension; but how many people have? And, perhaps more to the point, have the people running the pensions invested wisely?

A Cabinet decree is a lovely thing. It is power.

Reality is much less attractive. Ugly in many cases. Nice to talk about “social justice” but can France afford it?

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One thought on “Backwardization in France

  1. The LS from SK says:

    And the common denominator is? = Left wing socialist governments.

    Greece and Italy are not a surprise given the “under the table” economy but France shooting itself in the foot is as they are resource rich, culture and climate blessed.

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