EUROPEAN PAPERS ON THE NEW WELFARE

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Financial sustainability of social protection systems (with particular reference to retirement pensions)

1. Introduction

The fact that the serious problems facing the European social protection system are frequently overlooked, is not an outcome of the different political or cultural viewpoints. Instead, it has more to do with a complete shift away from any link with reality. This alteration is endangering the current welfare of society and, above all, the welfare of future generations. European governments are aware of this fact, however, they are, on the whole, reluctant to take on unpopular, albeit necessary, proposals that could put the relation between production and resource consumption back on track.
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