In Latin, a "conclave" refers to a locked room – cum clave, with the key. By extension, the Church has given it the meaning of a closed meeting of cardinals to elect the pope. A confinement necessary to escape political pressures.

The "conclave" set up by Prime Minister François Bayrou to find common ground on the future of France's pension system must have been poorly locked, since three major labor unions managed to exit: the CGT, Force Ouvrière, and the Union des artisans (U2P). However, the remaining participants achieved the small miracle of agreeing on a four-point working plan on Thursday, March 27: financial balance, parity, solidarity and effort sharing.

Going any further will be more difficult than choosing a supreme pontiff. At the heart of the disputes is, of course, the statutory retirement age. A symbolic red line for everyone, with some viewing it as a ceiling and others as a floor. The unions, backed by the majority of the French people, have turned it into a conquest of social rights, while employers and the government see it as a fundamental element for restoring the nation's public finances.

Solidarity between generations

The key issue is the employment rate. In France, nearly 68.4% of people aged 15 to 64 are employed. Economist Gilbert Cette, head of the Pensions Advisory Council, calculated that if this rate reached that of the Netherlands, which is 82.4%, the government would recover the equivalent of the combined budgets of national education and defense, and the deficit issue would be resolved.

But to achieve this, young people would need to enter the labor market earlier and seniors would need to leave it later. Hence, the idea of having people work longer. It is an absolute necessity in the face of demographics that weaken intergenerational solidarity. Yet in France, the desired retirement age is very low, 61, compared to over 64 in Germany. We can't wait for retirement!

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