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Pensioner och demografi

The big three economies of continental Europe have suffered relatively little from the bursting of the stock market bubble and have been spared the imbalances that continue to afflict the US economy. Yet they face a much bigger long-term structural challenge than the US in the shape of worsening demographics. The political will to confront that challenge is now being put to a test that could have profound consequences for the future of the eurozone.
John Plender Financial Times 30/5 2003