France's parliament approves pension reform

Austerity - balancing the budget during a depression when a large chunk of the workforce is dependent on jobs and benefits from the public sector is certain to bring more social discord. France is not the only nation struggling with these trends. The United States is looking straight down a similar gun barrel. There are no easy solutions to a problem that requires time and further reductions in the overall standard of living.

France's parliament granted final approval Wednesday to a bill raising the retirement age from 60 to 62, a reform that has infuriated the country's powerful unions and touched off weeks of protests and strikes.

The 336-233 vote in the National Assembly was a victory for conservative President Nicolas Sarkozy, who has stood firm despite the protests — a stance that has resulted in his lowest approval ratings since he took office in 2007.

Source: news.yahoo.com