The European Union is working toward setting a benchmark retirement age to be used as a starting point for national thresholds, German Finance Minister Wolfgang Schaeuble said in an interview on Sunday. Schaeuble said the plan, which foresees requiring countries to adapt their retirement ages to demographic trends, had made significant progress.
"As for the retirement age, we've really reached concrete understandings. We will make a benchmark system," he said in an advance transcript of an interview with broadcaster ARD. "Maybe there will be a system of arbitration," he added. Asked if there were signs heavily indebted eurozone member Greece would be forced into restructuring its debt, Schaeuble said many ideas were afloat in Athens but that one should wait to see what is announced officially.
"Most market participants expect this problem to be tackled in a responsible way," the interview. He also said he found it too early to say whether Europe's single currency has steered clear of potential pitfalls. "It's a bit too early to say," Schaeuble said when asked if the euro had made it out of the woods.
Comments
Comments are closed for this article.