French Pension Protesters Storm Paris BlackRock Headquarters


French Pension Protesters Storm Paris BlackRock Headquarters

BY TYLER DURDEN


Update (0810ET):

We noted early that pension protestors in France were gathered outside of BlackRock's Paris headquarters. The protestors have now stormed the building.

Here are the current scenes from Paris:

*    *    * 

France faces another wave of widespread protests and strikes following an unproductive discussion between the prime minister and labor unions. The failure to reach a compromise on the unpopular pension reform, which extends the working years for individuals, has fueled two-and-a-half months of public discontent. 

Hundreds of thousands of people are expected to protest on Thursday against Emmanuel Macron's pension reform to raise the minimum age from 62 to 64.

Trade union leaders met the Prime Minister, Elisabeth Borne, on Wednesday, but after just an hour of talks -- they failed to find a comprise. The Guardian provides insight into some of those conversations: 

Cyril Chabanier, speaking on behalf of France's eight main unions, said: "We again told the prime minister that the only democratic outcome would be the text's withdrawal. The prime minister replied that she wished to maintain the text, a serious decision."

Sophie Binet, the new leader of the CGT trade union, called for more protests and strikes after the failed talks with the prime minister:

"We have to continue mobilizing until the end, until the government understands there is no way out other than withdrawing this reform," Binet said.

Labor unions plan to keep pressure on the government until the Constitutional Council decides on the pension reform. They believe there's still a chance to block it from becoming law on April 14. If unions are unsuccessful, strikes will likely continue. 

"We're in a social crisis, we have a democratic crisis, there is a problem, and the president has the solution in his hands," Laurent Berger, leader of the CFDT union, said on RTL radio. 

Bloomberg cited a recent poll that shows most French people oppose pension reform. 

And most French people support pension reform protests. 

Meanwhile, Macron is meeting with Chinese President Xi Jinping in Beijing today while France enters another round of mass protests.


Source: Zero Hedge




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