Posted on 06/06/2012 11:52:25 AM PDT by rightwingintelligentsia
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.
The decision follows pre-election promises from the new president Francois Hollande to reverse the rise in the retirement age introduced by his predecessor Nicolas Sarkozy in 2010.
“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.
(Excerpt) Read more at telegraph.co.uk ...
The socialists apparently want to see their country burn, because that it want is going to happen to Greece this summer and the Lemming Hollande is right behind them.
France-one-step-closer-to-the-edge ping
I have to wonder, what difference does the age of retirement make if there are very few jobs to go around? If there is a generous unemployment compensations schedule, the only difference the retirement age makes is whether you call the check you receive "unemployment benefits" or a "retirement pension."
Of course, in a healthy economy, not as burdened by heavy payments to the nonworking, there are more jobs to go around, and the retirement age does make a difference.
The Krauts will not be pleased.
One more reason for the US not to get involved in any bailout scheme for the Euro.
The people who voted for this clown are thrilled with this action. They and the rest of Europe deserve what they get. Unfortunately, their economic collapse could cause a global depression.
This will work out well. The German’s will gladly raise their retirement age and send the money to the French so they can retire early! Yes!
This is asinine.
Back when FDR created Social Security, those who made it to age 65 lived on average to age 70.
Today in the U.S., people who live to age 65 will on average live to age 75.
I’m sure France is similar. People who reach age 60 are likely to live to 75.
France, and the U.S., should be raising their retirement age to 70, not lowering it to 60. The U.S. should raise Medicare eligibility to match SS eligibility. The U.S. eliminate early retirement at 62. If someone wants to retire earlier, save more money.
Germany should exit the EU and the Eurozone immediately.
You know what these part is.... They consider entering the workforce at 18 “early”...
You know what these part is.... They consider entering the workforce at 18 “early”...
You know what these part is.... They consider entering the workforce at 18 “early”...
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