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Pension tensions excite European press
The social unrest sweeping Europe reached the yacht-lined shores of the Mediterranean principality of Monaco on Thursday, where hundreds of workers took to the streets to protest planned pension reforms, German news agency DPA reported. Between 800 and 1,000 people demonstrated over the government‘s plans to increase workers‘ and employers‘ pension contributions, according to police figures. The government says increased life expectancy makes the current pension system untenable. In 1970, workers in Monaco drew down a pension for seven years on average before they died. Today‘s pensioners live on for an average of 19 years after they retire. “If we don‘t take steps we won‘t be able to cover pension payments," the government has warned. The trade union federation, which called Thursday‘s demonstration, says the government is being alarmist and that the state pension fund has several years of pensions in reserves. The USM says the reforms would effectively end retirement at 60. Prince Albert II has called an extraordinary session of parliament in September to debate the reforms.
Prince Albert to offer 38 historic cars in auction
Prince Albert is putting up for sale 38 cars from the Principality’s motor museum. The vehicles were collected over time by his father, Prince Rainier. Many of the cars are typical of their time and in exquisite condition but are not expected to make huge prices. Estimates range from less than €10,000 to €35,000. The sale will be held on July 26 at the Terrasses de Fontvieille Museum. Among the cars going under the hammer are a Citroën Traction 11c Commerciale, 1955, with an estimated sale price of between €12,000 and €16,000 euros and a pre-war Austin 7 tourer, which is expected to make between €6,000 and €10,000, according to the auctioneers, Artcurial. There are no reserve prices. The site of the Prince’s motor museum is due for redevelopment. PHOTO: www.monacolife.net
Ladies Lunch aids autistic children and families
The Ladies Lunch Monte-Carlo Association raised more than € 33,000 at its lunch yesterday at the Hotel Metropole Monte-Carlo. The funds will be entirely donated to the association AMEA, the Monegasque Association for Autistic Children. Everything was made possible thanks to the sponsorship of Montblanc who exhibited some of their most beautiful jewellery pieces from their Princess Grace de Monaco collection, followed by magnificent fashion show with the models wearing exquisite Montblanc jewels... MORE & PHOTO: www.monacolife.net
Best of Bordeaux on borders of Monaco
Friday July 6 will be an exceptional evening for lovers of the wines of Bordeaux. A tasting event has been organised on the border of Monaco at the A'TREGO sky bar overlooking the sea. Wine lovers will be able to sample the finest Bordeaux red, white and sweet wines, including its most prestigious appellations, St.-Julien, Margaux, Pauillac, St. Estephe, Pessac-Leognan, Graves, Saint-Emilion, Pomerol, Sauternes, Barsac, Listrac, Moulis, Medoc and more. Members of the Union des Grands Crus will be on hand for a presentation of wines never before all gathered anywhere on the Riviera… MORE & PHOTO: www.monacolife.net
US Rep to stay away from OSCE meeting
It appears that only one member of the US Congress will come to Monaco for the annual OSCE meeting of parliamentarians next month, or possible none at all. Rep. Chris Smith told the Washington Post yesterday that he had always opposed the venue: “I couldn’t believe they picked Monaco” as the site, he told the paper. The Principality was described in the article as the “pricey gambling mecca on the Riviera.” Smith is chairman of the House human rights subcommittee.
Renault plans lower break-even
Renault aims to reduce the point at which it covers its costs to 2.4 million cars per year, down from 2.6 million, its chief operating offer Carlos Tavares told the Automotive News Europe congress in Monaco yesterday.
PHOTO: We now have a photo of Wednesday’s event with FANB students at which Princess Charlene and Princess Caroline made awards… PHOTO: www.monacolife.net