Pension plans carry high risks for France’s Macron

2019 ◽  
Keyword(s):  
Euro Area ◽  
Pension Reform ◽  
Pension Plans ◽  
Fiscal Rules ◽  
Budget Deficits ◽  
Content Type ◽  
Pension Schemes ◽  
Retirement Security ◽  
The Government ◽  
The Military

Subject Pension reform in France. Significance President Emmanuel Macron’s pension reform plans are designed to combat budget deficits and create more flexibility for people changing jobs. Concerns that future retirees will have reduced pension rights have resulted in strikes and protests throughout France. However, the government remains committed to implementing the reforms. Impacts Spending priorities such as the military and police may suffer if the government is forced to make expensive concessions on pensions. Additional private pension schemes could become more popular as households seek to bolster their retirement security. Budget overruns resulting from the failure to implement reforms would risk compromising euro-area fiscal rules.

Prior actions passed will unlock Greek bailout cash

2015 ◽  
Keyword(s):  
Euro Area ◽  
Pension Reform ◽  
The Political ◽  
Content Type ◽  
The Government

Significance This allowed the Eurogroup of euro-area finance ministers to authorise the release of 12 billion euros (12.8 billion dollars) from the latest bailout package of 86 billion -- 2 billion euros to supplement budget needs and 10 billion for bank recapitalisation. Impacts There could be more parliamentary cliff-hangers over approving implementing legislation in such areas as pension reform. The opposition may support the government on some issues, but this could undermine Tsipras's authority. Another election is possible, but might not change the political balance.

Pension reform could derail France’s Macron

2018 ◽  
Keyword(s):  
Economic Reform ◽  
Euro Area ◽  
Global Economy ◽  
Pension Reform ◽  
Content Type ◽  
Reform Agenda ◽  
Innovation Fund ◽  
Business Confidence ◽  
The Government ◽  
The Eu

Subject Macron’s economic reform agenda. Significance President Emmanuel Macron views his reforms through the prism of power: by strengthening the economy, he hopes to win credibility with Germany, whose support he needs to reform the EU and euro-area. However, the apparent ease of his labour regulations reform in September does not diminish the risk of his next two targets: unemployment benefits and pensions. Impacts With a shrinking share of euro-area exports, France will see limited benefit from the stronger global economy. Business confidence may increase if the government eases the regulatory burden on medium-to-large businesses. Financing an innovation fund by selling off some state assets will take time and likely have little impact on confidence.

France’s Macron seeks to relaunch economic reforms

2021 ◽  
Keyword(s):  
Government Spending ◽  
Social Care ◽  
Youth Unemployment ◽  
Economic Reforms ◽  
Fiscal Rules ◽  
Left Wing ◽  
Social Unrest ◽  
Content Type ◽  
The Government ◽  
Mandatory Vaccination

Significance Among those policies are measures targeted at youth unemployment and social care for older people, aimed at attracting left-wing support. Most importantly, Macron has committed to relaunching his controversial pension reforms, which triggered widespread social unrest in late 2019 and early 2020. Impacts Mandatory vaccination could trigger protests and legal action against the government. The centre-right Republicans could take support from Macron if they unite around a strong presidential candidate over the coming months. Macron will likely push for looser EU fiscal rules to facilitate more government spending beyond 2022.

The concept of trust in disasters: the Slovenian experience

2019 ◽  
Vol 28 (5) ◽  
pp. 603-615
Author(s):  
Marjan Malesic
Keyword(s):  
Disaster Response ◽  
Simple Random Sampling ◽  
Computer Assisted ◽  
Content Type ◽  
Small Areas ◽  
Face To Face ◽  
Survey Results ◽  
The Media ◽  
The Government ◽  
The Military

Purpose The purpose of this paper is to identify the level of public trust in disaster response actors, i.e. the government, civilian disaster response institutions, the military, NGOs and the media. Design/methodology/approach The data source is the 2015–2016 Slovenian Public Opinion Survey, which used face-to-face interviews (computer-assisted personal interviewing software), and a standardised instrument (questionnaire). A two-stage probability sampling design with stratification at the first stage was applied. The first stage involved a probability proportional to size selection of 150 small areas (statistical areas), where the size measurement was a the number of adult persons in the Central Population Register. The second stage involved the simple random sampling of 12 persons from each of the 150 primary sampling units. A total of 1,024 adult residents participated in the survey. Findings The findings suggest that trust in the government under normal situations is low; however, it becomes slightly higher during disaster conditions. Civilian disaster response institutions (especially firemen and civil protection), the military and NGOs (humanitarian and other volunteer organisations) are highly trusted before and during disasters. Trust in the authorities and media to inform the public in a timely and comprehensive manner about the disaster is also relatively high. Research limitations/implications Perhaps in another period of research, disaster-related experiences of the population might be different, which could certainly change the survey results about trust. Nevertheless, the main finding that low pre-disaster trust can be recovered during a disaster by adequate performance of the institution is not jeopardised. Originality/value The survey results are original.

German shift on austerity would risk 'wrong' lessons

2015 ◽  
Keyword(s):  
Euro Area ◽  
Credit Rating ◽  
Bond Yields ◽  
Trade Surplus ◽  
Fiscal Stimulus ◽  
Content Type ◽  
Black Spots ◽  
Angela Merkel ◽  
Deficit Financing ◽  
The Government

Significance Chancellor Angela Merkel faces a rising tide of euro-area members in favour of a policy shift away from austerity and possibly towards more favourable debt deals for euro-area black spots. Adding to the pressure for change, her own voters may prefer a slower pace of debt reduction: German government debt has already been falling as a percentage of GDP -- from over 80% in 2010 to under 77% at the end of 2014 -- and debt is starting to fall in absolute terms as well. The government has delivered enough stabilisation (ie, austerity) and growth to tame the 2009-10 debt surge and maintain its AAA credit rating, but is now over-achieving in terms of its own tough targets because the greater-than-expected fall in debt interest costs is pushing the budget into surplus. Some modest spending adjustments look likely to curb this windfall surplus, yet many will argue that more could be done to re-energise the sluggish economy -- and boost the euro-area. Impacts The plummeting euro will provoke another rise in German exports (already near 50% of GDP) and tensions over Germany's bulging trade surplus. While a fiscal stimulus and/or higher wage payments could address these tensions and raise imports, there is no sign of such action. Germany's critics are gathering support to end austerity, to the point of ignoring the risks of deficit financing and reneging on debts. Ultra-low German bond yields, encouraged by the prospective supply fall, are dragging down euro-area yields, delivering wider benefits.

Uganda former PM aspirant will provoke backlash

2015 ◽  
Keyword(s):  
Prime Minister ◽  
Content Type ◽  
High Profile ◽  
Internal Disruption ◽  
The Government ◽  
The Military ◽  
Ruling Party ◽  
Police Forces

Subject Pre-election politics in Uganda. Significance The long-expected announcement on June 15 by sacked Prime Minister Amama Mbabazi that he will run for president will bring bitter tensions between him and President Yoweri Museveni out into the open. It is highly unlikely to threaten the latter's 30-year rule but may provoke internal disruption within the ruling party as Museveni makes an example of internal dissent. Impacts Loyalty among the military and police forces will remain central to Museveni's power. Museveni effectively distances himself from graft scandals, while Mbabazi's reputation remains tarnished by several high-profile cases. Oil firms could see some benefits, if Museveni decides to assure them of his solid hold on power. The government was already likely to unleash inflation-inducing spending during the election, but Mbabazi's campaign increases this risk.

Brazil faces stagnation risk in 2017

2017 ◽  
Keyword(s):  
Government Spending ◽  
Pension Reform ◽  
Investment Decisions ◽  
Fiscal Crisis ◽  
New Wave ◽  
Short Term ◽  
Business Investment ◽  
Content Type ◽  
The Government

Subject The risk that the Brazilian economy will stagnate, rather than recover, this year. Significance The recent passage of legislation freezing government spending and the ambitious pension reform currently under discussion in Congress are the flagship policies of the government of President Michel Temer. Both seek to defuse Brazil’s fiscal time bomb in the long term. However, they offer little support to immediate expansion in an economy that not only has been in recession since the second quarter of 2014 but is also locked in a low-growth trap will few apparent short-term escape routes. Impacts Popular dissatisfaction may trigger a new wave of demonstrations, further weakening the government. As long as the fiscal crisis persists, the government’s ability to stimulate the economy will be limited. Political risk will be a crucial factor in business investment decisions in Brazil.

Iran's military set for more aggressive stance in Gulf

2016 ◽  
Keyword(s):  
Armed Forces ◽  
General Staff ◽  
Content Type ◽  
Defence Budget ◽  
Intelligence Collection ◽  
Gulf States ◽  
The Media ◽  
The Government ◽  
The Military ◽  
Major General

Significance Tensions between the Gulf states and Iran have escalated significantly in 2016, in the wake of Iran's signing of a landmark deal in 2015 that brought to an end the decade-long dispute over its nuclear programme. The response of Iran's military to the heightened tensions will be partly influenced by the new chairman of the Armed Forces General Staff (AFGS), the country's top military body, Major General Mohamad Hossein Bagheri. Impacts A more assertive and non-compromising IRGC will increase pressure on President Hassan Rouhani as he seeks re-election in 2017. Improvements in intelligence collection and dissemination are likely in Syria, aimed at reducing Iranian casualties. The military and government are likely to clash soon over the defence budget and its allocation. The government will try to keep the IRGC in check by tipping the media off about alleged financial wrongdoings. With the next US president expected to adopt a harder-line stance on Iran, the diplomatic rapprochement may be reversed partially.

Angola leader could rescind his 2018 retirement pledge

2016 ◽  
Keyword(s):  
Civil Society ◽  
Critical Role ◽  
Vice President ◽  
Content Type ◽  
Social Protests ◽  
The Government ◽  
The Military ◽  
Spending Cuts

Subject Political outlook for Angola. Significance President Jose Eduardo dos Santos, in power since 1979, recently announced that he would relinquish the presidency in 2018. While Dos Santos is believed to favour a transition to one of his own children or to Vice-President Manuel Vicente, neither option will find favour in the ranks of the ruling People's Movement for the Liberation of Angola (MPLA) or the wider public. Impacts The military will be immune from major spending cuts given its critical role in ensuring the longevity of the regime. Rising repayment burdens on Chinese loans (estimated to total 25 billion dollars) will further undermine budgetary resources. As social protests rise, the government will respond by clamping down on critics and tightening rules governing civil society groups.

Myanmar's partial ceasefire faces precarious future

2015 ◽  
Keyword(s):  
Ethnic Groups ◽  
Armed Groups ◽  
National Elections ◽  
Content Type ◽  
National League ◽  
The Government ◽  
The Military

Subject Outlook for Myanmar's ceasefire process after eight ethnic armed groups agreed to sign up. Significance Myanmar's government will sign a ceasefire agreement on October 15. Despite the deal's "nationwide" title it covers only eight of 15 ethnic armed groups, raising security and political concerns ahead of national elections on November 8. Impacts The government will push for current non-signatory ethnic armed groups to join the ceasefire. The National League for Democracy will foster links with ethnic groups, anticipating the post-election period. The military vote may be used to manipulate the election's result.

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