Effects of European Debt Crisis
Benmosche, who turned 68 last week said that if people decided to work later into their lives it would make “pensions [and] medical services more affordable. They will keep people working longer and will take that burden off of the youth.”
Higher Retirement Ages in Greece
As the European crisis continues, Greece has shown signs of exiting the euro. If Greece decided to go through with it and abandon the euro, it could be disastrous for the country and Europe seems to be working to prevent that from happening.
As of right now, Greece has an average life expectancy of about 81.3 years with an average retirement age of 59.6. This is one of the lowest retirement ages in Europe. It seems that as the life expectancy continues to become higher and higher the working population is going to have to get used to the idea of working into their later years. A retirement age of 60 or 65 may not be plausible for the entire working population at this point.
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