Europe pension squeeze fuels youth protests from France to Greece
Why it matters: Pensions take about 40% of EU social-protection spending as governments weigh higher retirement ages and other cuts.
Student-led protests in France and other European countries are increasingly tied to a broader fight over aging populations and the cost of pensions. Demonstrations returned to France on Nov. 14, while similar youth-driven unrest has surfaced in Belgium, Germany, Greece, Italy and Portugal as younger Europeans complain that spending on retirees is crowding out schools, housing and other public services.
The dispute reflects a fiscal crunch across Europe: retirees are living longer, defense spending has risen and higher interest rates have made public debt more expensive to service. Pension spending accounts for roughly 40% of social-protection outlays in the European Union. Many governments have tried to contain costs by lifting retirement ages rather than cutting monthly benefits directly. Denmark plans to raise its retirement age to 70 by 2040.