While French workers battle for retirement at an age when they can still comfortably bend their knees to play boules, some bankers say they expect to work into their dotage anyway. Macron cut taxes for the rich and spent money on the millitary.sadly there is now no more money for pensioners. "- Macron should have focused on inefficient spending in the administration rather than on pensions, but as usual he preferred the easy way and got trapped." This sends a signal to the financial markets on the problem of French public debt," says the MD. While finance professionals are broadly in approval of Macron's attempt to get a grip on French national debt and to align the retirement age with European counterparts, some are critical of his methods. The protests follow Emmanuel Macron's decision to invoke Article 49.3 of the French constitution and push the retirement age changes through without a vote in the National Assembly. "If my contribution increases, I won’t stay, it’s as simple as that." "I’m already paying very high social taxes for the pension system (much higher than what I will receive)," says one French managing director at a European bank in Paris. Most, though, are also very clear that they themselves are not keen on paying higher taxes to fund other people's early retirement. Some are sympathetic to the manual workers facing another two years of work. As French protests rage over plans to hike the state retirement age from 62 to 64, bankers in Paris are ambivalent about the protesters' cause.
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