Pension reform lands French with social costs

Hundreds of thousands of French protested on Thursday against the planned raising of the retirement age from 60 to 62. The writer Henri Peña Ruiz, a member of the French Left Party writes in the daily Le Monde that the pensions reform is a scandal: "Pensions abuse. Realism? No. Disappointment and a step backwards. ... The social costs of unemployment or overwork are not recorded in any business accounts. And yet they exist nonetheless. Capitalism pretends to ignore them. In the chaste name of liberalism it promotes an irresponsible, vulnerable economy and dumps the costs on the community: human, ecological and social costs. By abolishing retirement at 60, the government is taking a shameful step backwards in social terms."

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