Monday, October 18, 2010

Fuel Short, Flights Canceled as France's Strikes Intensify

Note: if you have not seen my posts about Greece and protests and our governments plans to take 401's then do searches now on the blog to read up. France strikes are about pension reforms... similarly close to what is about to happen here.ADDITIONALLY French terror alerts are at the 2nd highest level due to threats from Al Queda for bombs similar to those in 2008.

Fuel Short, Flights Canceled as France's Strikes Intensify: "(Oct. 18) -- As France began its second week of nationwide strikes in protest of planned pension reforms, workers blocked oil refineries and depots, and more than 1,000 gas stations reported being out of fuel.

The intensifying fuel crisis, which aviation officials said would cut flights into French airports by half on Tuesday, stems from outrage over President Nicolas Sarkozy's vow to increase the minimum retirement age from 60 to 62. Sarkozy has said that pension costs have ballooned as France's population ages and must be cut to reduce the budget deficit, which last year rose to 7.5 percent of GDP.

The showdown is escalating as neither the Sarkozy government nor the country's unions appear disposed to back down. The pension reform package has already been passed by the National Assembly, and the Senate is schedule to cast the vote necessary to make it law on Wednesday."

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