EU As was the case during the equities markets collapse in 2001, the current financial turmoil will reshape the political debate in Europe over public pension reform and the structure of pension provision. While all privately funded pensions in Europe will suffer unavoidably in the short term from the general malaise in financial markets and the expected low growth in the real economy, the more important implication of the crisis is that debates will intensify among policymakers and practitioners over the broader issues of pension fund governance and collective risk-sharing.

Herald Tribune