This text is about the demographic and funding crises that threaten continental European systems of pension and retirement income. The author argues that state-sponsored social security will not deliver promised retirement incomes for the baby-boom generation; European monetary union and the imperatives of global finance has made such promises untenable thereby undercutting nation-state social solidarity. Globalization has set many challenges for European countries, not least of which is providing pension security for their citizens. At the same time, global finance has opened-up options for corporations and individuals seeking alternatives to the past; but exercising those opportunities will come at a high cost for European notions of social justice.
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