France’s pension reform compromise: The light at the end of the metro tunnel?

French Prime Minister Edouard Philippe on Saturday made what appeared to be a major concession in his government’s showdown with unions over pension reform, retracting the bill’s most controversial measure – the so-called pivot age. But Philippe’s backtrack is only provisional. It depends on unions sorting out another way to save the system money, lest the reform wind up right back where it started.