Union hardliners make their push against President Emmanuel Macron’s landmark labor-market reform Tuesday with strikes and demonstrations across France.The CGT, the main union holdout against Macron’s plan to add flexibility to the labor code, says 180 demonstrations are planned nationwide and 4,000 strike notices have been filed. Commuter trains will be disrupted though high-speed services including the Eurostar to London and Thalys to Brussels will operate normally, train operator SNCF said. Oil refineries may also shut for part of the day, the CGT said.Macron, who is down in the polls and battling critics on several fronts, will be hoping for limited disruption to transport and a modest turnout at the demonstrations as he prepares to to push through the reform on which he has staked both his political capital and his economic strategy for the next five years. Labor activists, meanwhile, need a show of unity and popular support to stand a chance of watering down the changes and slowing his momentum on a host of other issues such as pensions and public spending.
Source: Macron Faces Union Pushback on Labor Rules as Critics Swirl – Bloomberg
Dollar Gains Tentative Traction
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.