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IPFS News Link • France

Macron Abandons Plan To Raise Retirement Age As Rock-Throwing Protesters Get Tear-Gassed

•, by Tyler Durden

The mood was militant, and the more violent demonstrators once again clashed with the police, even as they sowed a trail of damage through eastern Paris. A bank branch was sacked, and bus shelters smashed and fires set. Unions said 150,000 protesters were in the streets of Paris on Saturday. -NYT

Saturday's demonstrations included exchanges between rock-throwing protesters and the police, who used tear gas, water cannons and other crowd control measures as the day wore on. At one point a building was set on fire.

The government of France plays a major role in retirement pensions - both providing and guaranteeing funds and overseeing the entire system.

The bid to boost the retirement age infuriated moderate unions Macron relies on, despite his insistence that French citizens need to work longer in order to keep the pension system - which may be facing a $19 billion deficit - financially sound.