Sarkozy claims strikes cost French economy €3bn

PRESIDENT Nicolas Sarkozy’s government warned yesterday that strikes against pension reform have cost up to €3 billion and threaten to derail France’s still fragile economic recovery.

Lawmakers are expected to sign a bill increasing the retirement age from 60 to 62 this week, but trade unions have called another strike for Thursday and ongoing protests around the country have triggered fuel shortages.

“Today, we shouldn’t be weighing down this recovery with campaigns that are painful for the French economy and very painful for a certain number of small and medium-sized businesses,” warned Finance Minister Christine Lagarde.