Why France's Pension Reform Faces Delay Until After 2027 Election

French Prime Minister Sébastien Lecornu has decided to suspend President Emmanuel Macron's proposed pension reform until after the 2027 presidential election. This move is aimed at averting a potential no-confidence vote and stabilizing the political climate in France. The reform, which included raising the retirement age from 62 to 64, faced significant opposition and widespread protests. By delaying the reform, Lecornu hopes to secure the support of the Socialist Party, critical for his government's survival, and pass a necessary austerity budget by the end of the year.

The suspension of the pension reform is seen as a concession to the Socialists, who have agreed not to back any no-confidence motions for now. However, the delay will require France to find budget savings to offset the costs of maintaining the current retirement age. This decision comes amidst a backdrop of political instability, with France experiencing multiple government upheavals and a struggling economy. As the country navigates these challenges, Lecornu's actions aim to bring temporary relief and prevent further political and economic turmoil.