Abstract
One of the key challenges facing governments as a result of an aging population will be how to balance the public finances in the future in the light of potentially rapidly rising age-related spending. This article presents the underlying causes of population aging and how this might affect future pension and health spending in European Union countries. The article then presents a number of policy options available to policymakers to deal with this challenge, arguing that none of them is without its problems. Nonetheless, European governments are making gradual progress, for example by reforming public pension systems.
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