French PM backs down to socialist rebels over low-income pensioners

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Manuel Valls will save low-income pensioners from one-year freeze of benefits and pensions in his 50 billion-euro deficit reduction drive.

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French Prime Minister Manuel Valls said on Thursday that he would adjust a 50 billion-euro savings plan to ease the burden on low-income pensioners, ceding to pressure from rebel MPs in his Socialist Party, reports Reuters.