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Monday, 25 October 2010 - French strikes and fuel shortages eat into economy |
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    Edition: U.S. Article Comments (0) Slideshow Email Print Reprints Full Focus Editor's choice A selection of our best photos from the past 24 hours.  Full Article  Read U.S.-South Korea aircraft carrier drill called off: report 24 Oct 2010 BP CEO slams media, rivals for boosting spill fears 9:49am EDT Wall St rises on dollar weakness, Fed stimulus talk | 11:28am EDT Bank of America finds foreclosure mistakes: report 8:53am EDT US STOCKS-Futures rise as dollar falls after G20 7:22am EDT Discussed 65 Jobs blasts rivals as iPad sales disappoint 54 Special Report: The haves, the have-nots and the dreamless dead 47 Special report: Conservative donors let Christine O’Donnell sink Watched Katy Perry weds; Damon a dad Sun, Oct 24 2010 Mexico's 20-yr old police chief Thu, Oct 21 2010 Russian spy poses for Maxim Tue, Oct 19 2010 French strikes and fuel shortages eat into economy Tweet This Share on LinkedIn Share on Facebook Related News French fuel depots no longer blocked: oil lobby 9:22am EDT Analysis & Opinion Small business bill passes, now what? Related Topics World » France » 1 / 3 An emergency flare silhouettes a striking employee during a blockade by dockers and refinery workers at the entrance of a fuel depot in Fos-sur-Mer, near Marseille, October 25, 2010. Credit: Reuters/Philippe Laurenson By Nick Vinocur PARIS | Mon Oct 25, 2010 11:17am EDT PARIS (Reuters) - Fuel shortages persisted at petrol pumps across France on Monday and the government said strikes against an unpopular pension reform were costing 200-400 million euros per day in lost production. Hardline unionists at nine of France's 12 refineries voted to continue their strikes but workers at the other three plants chose to end their walkouts after the Senate passed the reform on Friday. The impact of strikes also eased in other sectors, with traffic running near normal on regional trains and the Eurostar line days after hundreds of thousands of French families began leaving for a 12-day school holiday. Economy Minister Christine Lagarde estimated the cost of the strikes at 200-400 million euros a day, while one small business association estimated that 4 billion euros had been lost. "The attractiveness of the (French) territory is in the balance when you see images like these," Lagarde told Europe 1 radio after returning from a G20 summit in South Korea. President Nicolas Sarkozy, whose popularity rating is near an all-time low, has vowed not to give any ground to the strikers as he seeks to prove that France can take tough measures to bring its deficit under control. Sarkozy has sent police to break up fuel depot blockades, tapped into strategic reserves and boosted imports to offset shortages. On Monday, oil lobby UFIP said all fuel depot blockades had been lifted. While strikes appeared to be easing, there was no let-up in Marseille where simultaneous strikes by port workers and garbage collectors have left trash piled in the streets and over 50 oil tankers idle in the Mediterranean. "The rubbish collectors absolutely have to start working again," Jean-Claude Gaudin, the city's mayor and member of the ruling UMP party, told the city council. "We need to put an end to this dramatic situation for Marseille." ECONOMISTS DIVIDED OVER IMPACT Despite the fact that both houses of parliament have now approved the bill, unions are preparing to hold two more days of protest on October 28 and November 6. Students are also set to march in a separate day of protests on Tuesday. Energy Minister Jean-Louis Borloo sought to reassure people as the school holiday got under way, saying the fuel situation would return to normal "within days," although he declined to offer a precise time frame. The government will also crack down on petrol station managers who have profited from the shortage by hiking prices. A parliamentary committee has agreed on a revised text for the bill, including amendments made by the Senate, which the upper and lower houses are expected to approve this week. Small businesses still fragile from the recession have fared worst during weeks of striking against the reform. France's top industrial group MEDEF requested on Sunday a moratorium on social charges for hard-hit companies. 1 2 Next World France     Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters.   © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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