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Nobel laureate Philippe Aghion urges pension compromise to prevent far-right rise
Paris — French economist Philippe Aghion, newly awarded the Nobel Prize in Economics for his research on innovation-driven growth, has called for a negotiated agreement between the government and the Socialist Party to suspend the pension reform, warning of the “danger of the National Rally coming to power.”
Speaking on France Inter, Aghion urged the left to support a temporary suspension, calling it “a modest price to pay to save the country from political instability.”
Prime Minister Sébastien Lecornu is set to outline his general policy statement this Tuesday, with the pension issue at the center of political tensions. The Socialist Party insists on suspending the reform as a condition to avoid a motion of censure.
According to Matignon, such a measure would cost at least €3 billion by 2027, but Aghion argues that the “cost of instability,” including potential interest rate spikes, would be far greater.