Sending a Signal

by Andrew Stuttaford

Via the Chicago Tribune:

France’s new left-wing government announced on Wednesday a cut in the pension age to 60  [from 62] for some long-time workers, carrying out an election pledge in the face of economic troubles and an EU warning that it would overburden an already creaking social welfare system.

Given what’s going on in the euro-zone, the timing (not to speak of the economics) is, to say the least, unfortunate. I imagine that it was driven by the imminence of France’s upcoming parliamentary elections, but I hope German voters are paying attention. If not, they will eventually be paying.

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