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The Collapse of Pensions in Spain: A new financial crisis for Europe? - VisualPolitik EN

  • 🎬 Video
  • ℹ️ Description


Spain is one of the countries facing the most problems related to demographic aging in the world. It is expected that by the middle of the century, the percentage of the population over 65 years of age will increase from 19% to 30%. This means that in just three decades the population over 65 will increase by more than six million people.

The problem is that, while it’s great that we are living longer and longer, in practice it creates a lot of challenges. Especially if we’re talking about pensions. The data seems clear: if the model is not reformed, Spain could even face the collapse of its pension system.

In this new video in collaboration with Value School we will try to answer the following questions: Where exactly are we? What financial problem is Spain facing? Are pensions really at risk?

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💬 Comments on the video
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don't they also have 50% youth unemployment? You don't need more young people, you need more jobs for them.

Author — Magdalena Os

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I'm from Spain, my grandfather worked in Switzerland when Spain was destroyed after the civil war, he came back after a couple of years and have children. My father did the same in France and came back to Spain to create a family. I will leave Spain for the same reason but in my case I won't come back. I think that more and more people from Spain will do the same at least who want earn money in a company or create it. I will work in Ireland but my friends are in the same situation they don't find work and will work out. A couple of them are in England and USA, the other are thinking in France, Germany, etc. This is hard but the future of the young people in Spain is out from Spain.

I know that this is probably a large comment but I just want to relieve my angry with my country here.

Author — Jesús D Perez

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In Greece, we have the same problem politicians argue all the time "we need more kids for the pensions" "we need more immigrants" when in reality Greek youth have 50% unemployment and 30% of employment. Really wtf is going on?

Author — Thanos And No Bill

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Sooner or later, every Ponzi scheme will collapse

Author — musa ibrahim

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In Italy we had the same problem: pensions were really high, equal to the latest salary. It was absolutely unsustainable, but nobody did anything for 20 years because it would have been *unbelievably* unpopular to change them. Finally in 2012 they put in charge a non-politician to do their dirty work. He did the job, making rough cuts like a butcher, blaming the Europe that "was asking for it", and then disappeared. Now the future pensions of young people will be 30-40% lower than the ones that our parents still receive. Which is kinda OK, since the previous system was unsustainable, but I'm very pissed that for TWENTY years nobody did anything, wasting money and putting a HUGE public debt on the shoulders of future generations. The only good thing in this mess is that we were allowed to live rich lives while we grew up and we will inherit our parents investments, but I'm not sure the next generation will be this lucky.

Author — TheDarkever

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Tax evasion is also rife in Spain.
The hospitality sector is full of employers who won't give full, permanent contracts to their staff. So it gets paid in black.

Author — Dean Guiri

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I hate how politicians aren't willing to do anything about this due to not wanting to lose their voters

Author — DrCanonball

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I know an old Spaniard that is a friend of my father, that lives here in Mexico. Has a big ass house on a hill, second richest neighborhood in the city, and has a business in Spain. He and his wife live here and spend their euros here which gets them more. Both retired but his family runs his business, send him the money, plus he gets his pension. Smart dude!

Author — solisium

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I'm German and I already know that I will never see a rent

Author — Dave_sic

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Just Spain?🤔 More like entire Europe.😭

Author — the contrarian

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In America we really value our youth. We have the next 12 generations indebted for their whole life before they ever pop out. They owe before they ever get here. Looking forward to seeing them.

Author — Mark Johnson

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Spain: 'Don't worry money machine can go
ECB: 'Nope'
Spain: O.O

Author — Jason Ahn

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This happens in EVERY "developed" country.

Author — Jo Zh

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I find it weird how he's essentially warning of an economic apocalypse to the soundtrack of an Adam Sandler movie

Author — Digital Hermit

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Stein’s Law - If something can’t go on forever, it won’t.

Author — Ty Roberts

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Retiring age in Spain has been raised up to 67, it's almost impossible to retire at 60. This is indeed a huge issue but I feel some of your data is not updated or correct.

Author — Irene G.

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Bismarck in 1889 adopted old age pension, set to 70 years. catch: average life expectancy was 45
well played sir!

Author — GAP

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Belgium’s is the same.
Many Belgian no longer believe that we will have a pension in 30 years from now.

Author — Nico Vansimpsen

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"1.3 children born..."

I sure am glad I wasn't one of those .3 kids that were born. I like my limbs 😋

Author — 리주민

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The problem is that society's life is based on useless numbers....we tend to focus on quantity over quality....wasting your life at work in order to "enjoy" the last 10 years of your life....this system deserves a beautiful collapse!

Author — il BUZZo