Sarkozy backtracks on Pension Bill, but still won't change retirement age
French President Nicolas Sarkozy has reportedly promised to revise some areas of the Pension Bill, after millions of French workers took to the streets in protest. It is not clear at the moment what concessions the French government is going to make, but Sarkozy has said he won't budge on raising the retirement age from 60 to 62. The retirement age has been a particularly emotive issue, and analysts are saying that the strikes and resultant rethink in policies have severely crippled Sarkozy's chances for re-election in 2012. Read more: Bloomberg News and the LA Times
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