Another View: French Should Hold Fast to Pension Reforms

Summary

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France's government-run retirement system has been running deficits averaging $15 billion and this year, with the recession cutting into revenues, the shortfall could be almost $45 billion. And the French have the demographic problems of other Western nations - an aging, longer-lived population and a crush of boomers now retiring.

The retirement age in France is 60; the average for the European Union is 65. In the U.S., a person born after 1960 must wait until 67 to collect full Social Security benefits.

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Extract

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Another View: French Should Hold Fast to Pension Reforms

Therefore, it seemed to the government of President Nicolas Sarkozy a sensi...

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