Early retirement reform approved

Polish parliament has approved a retirement bill on Thursday, which has sparked protests and demonstrations earlier in the week, as a move to trim the country's spending.

The proposed bill, prepared by Prime Minister Donald Tusk, aims to slash the number of workers covered by early retirement schemes to be slashed by 75 percent, 1.2 million to 240,000. The bill will also cut annual spending to between zł.500-600 million from zł.4-5 billion, according to Labor Ministry figures.

The Senate is expected to approve the bill, but President Lech Kaczyński could veto the bill. "I think people in Poland go on retirement too early," said Kaczyński to reporters on his way to the EU summit in Brussels. "I am seriously considering the bill," he said adding that there won't be a decision today.

Meanwhile, Prime Minister Tusk has said he'll beg on his knees if it's necessary.