rescuing again. i ll ask one of the people who was at the center of the storm the last time around, the former ceo of goldman sachs lloyd blankfein about whether the system is stable, and is your bank account safe? also, how did it come to this? did we learn the wrong lessons the last time? i ll talk to julian tet of the financial times. then don t mess with the french people s retirement plans. that s the lesson from weeks of strikes and protests and then chaos in parliament as the government pushed through their policy anyway. [ speaking non-english ] which brought the outrage right back to the streets. we ll tell you what you need to know. but first, here s my take. on his trip to saudi arabia last year president biden made an emphatic declaration about u.s. policy in the middle east. he said we will not walk away and leave a vacuum to be filled by china, russia or iran. last week s reproachment between saudi arabia and iran brokered by china suggests that th
upset has turned to outrage in france after president macron s government used a special constitutional power to force a controversial bill through the legislature on thursday. at issue is something near and dear to the hearts of french men and women, their retirement and instead of retirement and receiving a government pension at 62, they will have to work an extra two years and get it at 64. macron says the reform is necessitated by rising life expectancies and the ever-decreasing ratio of workers to retirees. in the 1960s, france had four active workers per retiree paying into the pension funds. in 2020 there was only 1.7 workers for retiree and two-thirds of people say they re against the reforms and joining me is sophie petter and author of revolution frances and emanuel macron and the quest to
reinvent a nation. sophie, first give us a sense of what it means that macron used this constitutional mechanism and he couldn t get a majority in the lower house. that has now provoked as the french term goes a vote of no-confidence. will it succeed? could this government fall? well, that s the question we re going to be looking at on monday because there are two vote of no-confidence that have been tabled. they need a majority of seats in the lower house of parliament and it s not a majority of people present and an absolute majority of seats in parliament in the national assembly. that, technically is perfectly possible if all of the opposition parties were to combine and were to vote in favor. i think what we are likely to
politically, the government and the president have been badly wounded by this, and looking at the rest of the second term, he hasn t been in office for one of those five years. it s going to be extremely difficult about whether or not it s democratic to use the constitutional provision and is it politically legitimate and that will make his time, i think, certainly in the next few months and longer than that extremely difficult. there s even a request about the government itself can survive in the short run. help us explain, sophie how the french know this, and he lowered the retirement age, since then, life expectancy has b gone up about ten years and the ratio of workers paying into this fund has gone drown dramatically, i think about 30%.