Tuesday, November 9, 2010

Disputed French Pension Reform Signed Into Law

Commercial Law
French President Nicolas Sarkozy has signed into law a controversial pension reform that raises France's official retirement age.

The law is published in Wednesday's edition of France's "Official Journal," where all of the country's laws are first published.

Nicolas Sarkozy signed the measure shortly after it was approved on Nov. 9 by the French Constitutional Council, following its adoption by parliament at the end of October.

The law raises the standard retirement age from 60 to 62 also the full state pension age from 65 to 67.

The decision had been opposed by trade unions and many members of the public, who mounted weeks of strikes and mass protests in Oct., causing fuel shortages, in a bid to persuade lawmakers to cancel the reform.

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