OPINION

Averting another pension fund crisis

There is yet another fire smoldering, apart from the blazes ravaging our forestland, and its rekindling will likely cause repercussions that Greek society is unable to tackle. The ratio of insured citizens to pensioners is worsening dramatically and the inevitable result, a few years from now, will be another pension fund crisis. The scale of the destruction wreaked by forest fires is the consequence of our past negligence (we did not determine which land can be built upon; we did not boost our fire service). Similar negligence will mean we are unprepared to deal with the next pensions crisis. So we must start preparing now. Employers’ and employees’ unions should clarify exactly what they want. And political parties should commit to specific measures. Head-in-the-sand policies will not help. We must predict future problems and take the necessary steps to avert them. Otherwise, we will end up asking ourselves, as we are doing now with the fires, «How on earth did this happen?»