France Seeks to Guarantee Fuel Supplies as Unions Aim to Shut Down Nation

Discussion in 'Wall St. News' started by ASusilovic, Oct 18, 2010.

  1. Oct. 18 (Bloomberg) -- France sought to guarantee fuel supplies as the country’s oil refineries remained shut by strikers opposed to President Nicolas Sarkozy’s plans to raise the retirement age.

    Paris’s airports are being supplied with jet fuel, and less than 2 percent of France’s service stations have run dry, Transport Minister Dominique Bussereau said on Europe1 radio.

    The government said it won’t give in to union demands that it suspend parliamentary debate on the pension change, and negotiate a new bill that retains the minimum retirement age at 60. Unions have called for another day of protests, to be accompanied by the fourth national strike in two months, on Oct. 19, the day before the Senate is scheduled to complete passage of the bill.

    “Raising the retirement age is the key to the financing of the system,” Prime Minister Francois Fillon said in an interview on TF1 television yesterday. “The debate and vote in the Senate will go ahead.”

    Now, that´s actually bad news for French GDP expectations, isn´t it ?
  2. I've been waiting for the French to man the barricades. The crisis won't be complete 'til that happens.
    They are taking a while. They were a lot quicker with this stuff in the old days...
  3. Gotta love this idea of rioting to try and cause national long-term bankruptcy. Don't they realize that if they don't allow reforms, they'll be getting 50 euros a month pension and eating tinned sardines for the last 20 years of their lives?
  4. Tsing Tao

    Tsing Tao

    yes, but the euro will be 1.80 by then! buying far more sardines.
  5. Bob111

  6. Depends where they buy them.
  7. pspr


    Tell yourself, "Unions are good", "Unions are good". Go on, keep saying it, "Unions are good". Idiots :D
  8. It's amazing that people feel they should be entitled to work part-time for all/most of their career (30 hrs/week + 6 weeks paid vacation), the be able to retire on someone else's nickel for 25-35 years at a middle-income.
  9. TraDaToR


    35-39 hours per week and 5 weeks paid vacation, but you are right.
    #10     Oct 18, 2010