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Tag: French Economy

French workers, firms to pay more in pension reform

French president Hollande’s proposed reform – aimed at closing a looming US$27-billion pensions deficit – is under close scrutiny from markets and EU partners, as business chiefs say reform will increase tax burden. Reforms extend payment period from 41.5 years to 43 years by 2035, but leave untouched the legal retirement age of 62 ...

Jobless Parisians mean fewer Peugeots

With unemployment in France rising and consumer confidence at a record low, auto sales in the country have tumbled more than any other major European market this year, signalling more pain for French automakers Renault and especially cash- strapped Peugeot Citroen ...