Melenchon Unveils 2027 Platform: Higher Minimum Wage, Retirement at 60

Jean-Luc Melenchon, the hard-left candidate for France's presidency, is launching his 2027 election programme on Saturday with pledges to lift the minimum wage and bring the retirement age back to 60, according to Reuters. For euro traders, French politics can influence sentiment around the single currency, so the platform is worth following even though it is still an early-stage campaign document.

Key takeaways

• Melenchon's manifesto promises a higher minimum wage and a return to retirement at 60 for people with long contribution records.
• It also proposes abolishing the flat tax on capital income, higher taxes on the wealthiest households and price caps on essential foods.
• Recent polls reportedly show him reaching the runoff next April against Marine Le Pen, but losing it.
• The euro was lower against the dollar on Saturday, though the story is only one of many possible drivers.

What the programme says

The manifesto is titled "L'Avenir en commun" ("A Shared Future") and is the fifth edition of the platform of his party, France Unbowed (LFI). It largely reaffirms policies that have formed the backbone of his previous presidential bids.

LFI says it would restore retirement at 60 for people who have contributed to the system for 40 years. The programme calls for raising the net monthly minimum wage to €1,700 from around €1,480, and includes plans to abolish the flat tax on capital income, raise taxes on the wealthiest households and cap prices for essential foods.

On foreign and European policy, the programme repeats his long-standing criticism of NATO and calls for a gradual French withdrawal, beginning with an exit from the alliance's integrated military command. It also criticises German influence on EU economic policy, describing Berlin as the chief defender of "ordoliberalism".

Political backdrop

Melenchon, 75, is viewed as the strongest contender on the left. Recent opinion polls have shown him reaching the presidential runoff next April against Marine Le Pen on the far-right, but also indicate he would lose in the second round. Polls this far from a vote can shift significantly, so they are a snapshot rather than a forecast.

Retirement age has long been a flashpoint in France. A reform raising the minimum retirement age from 60 to 62 was approved by lawmakers years ago, and the issue has dominated earlier campaigns, including Melenchon's 2022 run.

Market snapshot

At 13:14 UTC on Saturday, 7 November 2026, the quotes below were the latest available. Weekend pricing can be thin, and several pairs show a flat day range, so moves should be read cautiously. Nothing here shows that the manifesto caused any of these moves.

EUR/USD traded in a day range of 1.11360 to 1.12370. The euro was softer against the dollar and yen but slightly firmer against sterling.

What to watch next

• Further opinion polls on a possible runoff between Melenchon and Marine Le Pen.
• How other candidates respond on pensions, wages and taxes.
• Any signs that French government bond spreads or euro volatility react to election risk.

Traders who follow European assets may want to treat the election as a slow-building theme rather than a single-day catalyst, and to consider how fiscal promises could be received by investors if they gain traction.

Markets are volatile and this article is for education only, not investment advice.