November 10, 2010 5:31 PM

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Sarkozy promulgates Pension Reforms Bill into law

French President Nicolas Sarkozy has promulgated the highly controversial pension reform bill into law. Sarzoky signed the bill this morning, hours after the highest ruling body Constitutional Council adopted the reform bill on Tuesday, hoping to end two-month fierce rows with trade unions and oppositions. The leader of opposition Social Party Martine Aubry denounced Sarkozy's act as brutality, blaming him too stubborn to listen to the public. On the other side, trade unions have announced to launch another national mobilization on November 23. Both the houses parliament earlier adopted the bill, with majority of legislators agreeing to prolonging French retirement age to 62 and full pension age to 67. France is suffering a pension deficit of over 30 billion euros. The government stresses the bill is aimed to prevent state bankruptcy.

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