I think if you want welfare reform in Europe, people are going to have to start taking some of that moral high ground and not simply just looking at the figures. |
People in Europe are tired of paying what they see as too much tax. And if you're going to get tax rates down, you're going have to cut spending somewhere. And the most obvious place to cut spending, because it's such a large part of the budget, is in social security and welfare. |
What I think you are going to see over time is a rebalancing. A rebalancing away from the state, a rebalancing away from the employer and a rebalancing onto individuals and their families to provide for their own protection in some way through insurance, through increased savings -- things of that sort. |