Reuters focuses on the impact of the crisis on pensioners and their families in the countries of southern Europe giving credit to Greece for taken drastic measures to reform the pension scheme.

According to the article, Greece is the only country that has carried out essential reforms since it was forced to cut pensions by 30 % between 2009 and 2013, under the terms of the international bailout program.

The article states that it is difficult pension schemes in Europe to change over one night, and notes that many governments have made small changes raising the retirement age to reflect the increase of life expectancy.

For example, in Spain people will retire at 67 in 2027 whereas today they retirement age is 65.

The article mentions, also, that in Spain, Italy and Greece most children live with their grandparents, who are struggling to meet everyday’s needs.

A 68-year-old who is retired after 40 years working in automotive manufacturing plants in Germany and Spain, supports three houses now, with a pension of nearly 1,600 euros.

So, only highly paid young people can do without the his parents’ financial support and build their future with their own hands!