France's Pension Puzzle: Unions and Employers at Odds

In the ongoing saga over France's contentious 2023 pension reform, unions and employers are preparing for crucial talks next week, amidst uncertainties surrounding participation from some major parties. Prime Minister Francois Bayrou has been negotiating to secure backing from Socialists to withstand political challenges.

Despite extensive discussions, the initial talks concluded on Tuesday, leaving disagreements unresolved. Another 'final chance' meeting is slated for June 23. Patrick Martin, president of employer group Medef, indicated reluctance to participate, stressing that their input was not solicited when revisiting the reform.

Labour Minister Astrid Panosyan-Bouvet reported modest progress, yet a comprehensive agreement remains distant. Unions resist the increase in retirement age from 62 to 64, fearing it would burden payroll contributions. Bayrou is considering all reform options to ensure financial balance in the pension system by 2030.

(With inputs from agencies.)