Old Europe? Demographic change and pension reform
US Defence Secretary Donald Rumsfeld was onto something when he classified the current EU countries as 'old Europe'. Germany, France and Italy together will have more than 70 million people over 60 in 2040. The fact that Europeans are leading longer, healthier lives is to be welcomed. The problem is that they are not producing enough babies, so that the ratio of workers to pensioners is rising relentlessly. David Willetts, in this highly original and thoroughly researched report, addresses a number of common fallacies in the ageing debate.
WINNER OF THE PROSPECT THINK-TANK PUBLICATION OF THE YEAR 2004
David Willetts MP was shadow secretary of state for work and pensions at the time of writing.
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