EU pension age plan lacks credibility

Let us get one thing straight from the start: the EU Commission has no power over state pension ages, nor is there any likelihood that it will acquire such jurisdiction.

Furthermore, there are no clear reasons for harmonisation of state pension ages at the European level. The EU probably felt like it had to react to the accusation that Eurozone countries were paying for privileged Greek pensioners to retire at younger ages than everyone else, but these proposals have a lot more to do with convincing international speculators about the future viability of the Euro than a serious plan for pensions policy.

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Image: European Council