French Prime Minister Sebastien Lecornu's decision to suspend a controversial pension reform has given markets some welcome relief Wednesday, with the move appearing to stave off another government collapse — at least for now.

But the axing of the 2023 reform — a key part of President Emmanuel Macron's legacy which would have seen the retirement age raised from 62 to 64 — and the saving of a beleaguered government, comes at a cost.

"There will be no increase in the retirement age from now until January 2028," Lecornu told lawmakers in the National Assembly on Tuesday as he presented his government's policy roadmap.

Lecornu proposed the concession — as well as promising not to force the budget through parliament — in order to gain the support of the Socialist Party ahead of no-confidence

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