French Constitutional Council Upholds Macron's Pension Plan

Facts

• On Friday, France’s Constitutional Council approved a plan to raise the retirement age to 64, in a victory for Pres. Emmanuel Macron after three months of mass protests over the legislation.¹
• Protesters gathered outside Paris City Hall, with most chanting peacefully while some set a garbage bin on fire. Unions and Macron’s political opponents vowed to maintain pressure on the government to withdraw the bill, and activists threatened further protests for Saturday.²
• The Council also rejected calls for a referendum but struck down some of the reforms, citing legal flaws, including a so-called 'senior index' aimed at urging companies with more than 1K employees to hire workers over 55.³
• While right-wing Les Republicains party leader Eric Ciotti said all political forces must accept the decision and 'show respect' for France’s institutions, opposition Socialist Party leader Olivier Faure said the Council only ruled on the law’s legality and that the French people will fight the reform in other forms.⁴
• Ahead of the decision, Macron said he would seek to meet with unions, which expressed their anger throughout the day. Macron and Finance Minister Bruno Le Maire argue the reforms are necessary to secure the pension system’s future.⁵
• Macron controversially passed the pension plan in March by sidestepping parliament via a special constitutional provision, sparking mass protests and a vote of no-confidence, which Macron’s government survived.⁶

Sources: ¹NBC, ²Associated Press, ³BBC News, ⁴Reuters, ⁵CNBC and ⁶ITN.

Narratives

• Narrative A, as provided by Le Monde Macron is aware of the political backlash that his pension plan brings, but he's standing firm and making difficult decisions to secure France’s future. He has also reached out to opponents to hear their concerns, but they have refused to engage in dialogue, using this to divide France and cause trouble as Macron attempts to protect pensions long-term.
• Narrative B, as provided by Zero Hedge. Macron’s government has defied the will of the French people, and it should have fallen. The grassroots support shows how much Macron’s constituents oppose his policy, and to make matters worse, he used undemocratic means to advance his unpopular pension reform. French democracy looks more like a farce each day, and Macron’s government doesn't represent the people.