The Standoff Over France's New Labor Laws Is Escalating
Earlier today, French police shut down an organized fuel depot blockade. The blockade was run by CGT, a powerful French Union, who has now threatened to strike. The union has voted in favor of a 24-hour strike that will begin at 3pm EST (1900 GMT) today. As a result, the French government has resorted to its emergency fuel reserves and has declared that the union is holding the country hostage. CGT is fighting a new labor reform aimed to relieve the country's 10% unemployment rate, despite the fact that the bill has garnered support from other unions. CGT maintains that the bill will result in protective labor regulations.
See Fortune, May 25, 2016