The collapse of France's pension reform negotiations could undermine Prime Minister Francois Bayrou's fragile minority government, increasing the risk of no-confidence votes, budgetary deadlock and potentially early elections at a time when the country is facing mounting pressure to rein in its growing deficit. On June 23, months-long negotiations between French unions and employer groups over potential amendments to President Emmanuel Macron's contested 2023 pensions reform collapsed. The talks focused on revising the law that gradually raises France's retirement age from 62 to 64, as part of a last-ditch attempt to ease tensions between the government, trade unions and opposition parties. Prime Minister Bayrou had tasked unions and employers with identifying compromise measures, including earlier retirement options for physically demanding jobs and greater recognition of maternity leave. However, employer groups reportedly opposed any changes that they argued would impose new costs and could threaten the financial balance of the system....
