Pension reform window still open say EU leaders

GREECE – European Union leaders say the “demographic window of opportunity” for pension reform is still open.

The final communiqué from last weekend’s summit of EU leaders in Thessaloniki said the leaders recognised the need to “strengthen the sustainability of public finances”.

To do this they recognised the need to cut government debt and reform pension and health care systems now “while the demographic window of opportunity is still open”.

Such actions, they said, would ensure that a “massive burden is not left for future generations”.

The Council also welcomed the progress achieved on the pension funds, company prospectuses and investment services that are part of the Financial Services Action Plan.

The leaders endorsed the so-called broad economic policy guidelines and employment guidelines. “Member states should ensure consistency and coherence in the implementation of both sets of guidelines,” they said.

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