fraser: time for business with kate moody. u're looking at the french government's latest attempt to reform the pension system. kate: it was scuppered in his first term protest and the pandemic. he says the system is unsustainable and cannot continue without running out of money. an headline proposal, they will raise the legal retirement age from its current 62 to 64. the decision not to push for 65 is seen as a major concession by the government. the ships will begin gradually, about three months per year until reaching that goal in 2030. you will have to pay into the pension system from -- for 43 years to be eligible for the full pension. there will be some exceptions for those who have physically demanding jobs. it's around 1200 euros per month. the government is trying to put an end to the specialize pension schemes for different trades or industry. there are currently 40 in place. again, there will be a few exceptions. france does spend more on its pension sin any european economy except for italy and greece. over 13% of i

france 24 business editor kate moody is in davos and spoke with the oxfam executive director about howconomic realities disprove trickle-down economics. >> the situation is getting worse so it allows us to see this idea that if you let corporation, and have less taxation, it will trickle down and everybody will benefit, we have seen this is not the case. that is the positive of this difficult situation we are living. we need to rethink, and several countries are rethinking, and they have been taxing wealth for some time. also taxing corporations at the right level. so there is opportunity to rethink and that's what this type of event is about. bryan: now for a check on trading, wall street close for the martin luther king jr. memorial holiday. european indexes gained ground monday as better-than-expected economic data from germany and the u.k. last week leads to predictions of a shallower than expected recession on this side of the atlantic. falling energy prices and china's reopening also helping to lift investor sentiment with all major indexes closing around 1/5 to one third of a pe

time for business with kate moody.s we begin 2023, you are looking at the biggest geopolitical and economic risks facing the global community. >> 2022 was dominated by russia's invasion in ukraine and the crisis that stemmed from that as well as ongoing disruptions to supply chains. many of these themes will carry over to this year. according to the eurasia group, the top of the risk list is rogue russia which continues its attack on ukraine. followed by xi jinping, weapons of mass disruption, inflation and iran. i have been speaking to the group's founder and president. them are very similar.op 5, 4 of aging dictators. a whole nch of individuals making very disruptive decisions without expertise, and without checks and balances. putin is the most dangerous of precisely because as of last february, he made the single biggest misjudgment of any major legal -- any major legal -- any major leader. he is paying for it and there is no way back to the status quo. even with the cuban missile crisis, both sides had the ability

happening with the ether thank you it is good i welcome to the program people and profits like kate moodyergy and inflationary crisis, as well as constant disruptions in global supply chains today we look to 2023 with ian bremer president and founder of the eurasia group, which just published its annual ranking of the biggest geopolitical and economic risks, leads the list russia in exile, which continues its attacks on ukraine followed by all dolphin weapons of mass destruction inflationary shock waves and iran rounding out the top five and ane thank you for joining us no wonder you identified russia as the number one risk in next year, tell us about it, if you look at these 5 points, four of them are very similar aging dictators and technical advances, in fact, this is a whole group of people who make very destructive decisions without expert evaluation and without a system of checks and balances on their power and then is the most dangerous of of this group precisely because as of february of last year he made the most about it of all the great leaders on the world stage now he and his