Protests Erupt After France’s Macron Bypasses Parliament To Pass Pension Reform

By Tyler Durden

French President Emmanuel Macron used special constitutional powers to pass a controversial pension bill through the National Assembly (the lower house) without a vote, a move likely to ignite protests on the streets of Paris.

The New York Times reported that Macron’s government used Article 49.3 of the Constitution to push through the pension reform bill without a parliamentary vote, highlighting the unpopularity of the proposed increase in retirement age by two years to 64.

AFP said there was chaos in the parliament and even outside after the government invoked 49.3:

Lawmakers were shouting, their voices shaking with emotion as Macron made the risky move, which is expected to trigger quick motions of no-confidence in his government. Riot police vans zoomed by outside the National Assembly, their sirens wailing.

Macron’s government has emphasized the need for pension reforms to ensure the sustainability of the pension system for the next ten years, as it is projected to have an annual deficit of 10 billion euros ($10.73 billion) from 2022 to 2032.

Strikes have been increasing since the start of the year in France to protest the reform. Last week, an estimated one million people striked.

Protesters have started to assemble.

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Source: ZeroHedge

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