On Tuesday, French Prime Minister François Bayrou hinted at the possibility of renegotiating the controversial 2023 pension reform, aiming to gain support from left-wing lawmakers essential

for passing the 2025 budget.

In a key policy address outlining his administration’s priorities, Bayrou proposed a three-month negotiation period, entrusting labor unions and employers’ organizations with the task of drafting a new pension agreement. He emphasized that the contentious minimum retirement age of 64 should not be an untouchable subject.

Despite opening the door to discussions, Bayrou cautioned that France’s mounting debt remains a significant threat, likening it to a "sword of Damocles" looming over future generations. He stressed that any revised pension deal must ensure financial sustainability. If the working group fails to present a balanced proposal, the existing reform will remain in effect.

Bayrou also announced that the working group would be established following the publication of a rapid financial audit on the pension system, to be conducted by France’s respected auditing body.

The Prime Minister’s remarks come in the wake of a turbulent 2024, during which President Emmanuel Macron stunned the nation by calling early elections. The outcome left Macron without a working majority in parliament, just as the country faced mounting public finance challenges in the eurozone’s second-largest economy.

Having assumed office last month after the collapse of Michel Barnier’s government, Bayrou’s administration is now focused on stabilizing governance. The priority is to secure enough support from opposition parties—particularly the Socialists—to pass the 2025 budget without risking a no-confidence vote or further political turmoil.

The Socialist Party, which played a key role in defeating the previous government’s budget proposal in December by aligning with far-right lawmakers, has conditioned its support for the new budget on amendments to the 2023 pension reform. Photo by Rama, Wikimedia commons.