France: Strikes costing up to $560 million per day

[October 25, 2010]  PARIS (AP) -- French Finance Minister Christine Lagarde says the country's massive strikes are costing the economy up to euro400 million ($562 million) each day.

Protests over President Nicolas Sarkozy's plan to raise the retirement age from 60 to 62 have left France struggling with fuel shortages, travel chaos and uncollected garbage.

Lagarde told Europe-1 radio Monday that the daily economic cost is between euro200 million and euro400 million. The minister also says the strikes are damaging France's image abroad.

The demonstrations have brought millions into the streets. Open-ended walkouts by railway and petroleum workers have wreaked havoc on commuters and travelers.

The Senate voted Friday to pass the pension reform. It's expected to win final approval this week.

[Associated Press]

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