Necessary though risky: Macron plans to increase France's retirement age to 65.

• The best way to safeguard our social system, according to France's finance minister, is by postponing the retirement age from 62 to 65.
• Before the 2017 election, President Emmanuel Macron made a similar promise, but the final proposals were met with protests and were eventually halted due to the coronavirus pandemic.
• The current strategy, as described by Finance Minister Bruno Le Maire, is "risky yet necessary."

The French finance minister acknowledges that opposing the retirement age increase is a risk for President Macron's reelection but believes it is necessary to safeguard the French social system.

The upcoming elections in France will see a major overhaul of the country's intricate pension system, with the retirement age being raised from 62 to 65. This move will bring France's retirement age more in line with those of other industrialized nations.

Before the 2017 election, the president made a similar promise, but the final proposals were met with protests and were eventually halted due to the coronavirus pandemic.

In an interview with Charlotte Reed of CNBC on Thursday evening, Finance Minister Bruno Le Maire stated that while it is risky, it is necessary.

To enhance the global prosperity of the French nation, it is crucial to protect our social model, which guarantees a fair and efficient pension system for all French citizens.

Instead of increasing taxes, the administration wants to cut them, as stated by the official.

Le Maire stated that reducing the level of pensions is another solution that should be avoided.

To safeguard the French social system and prevent the implementation of two unfavorable options, the only viable solution is to increase the retirement age.