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Greece and Argentina show why pension reforms should not be used as a quick fix for a financial crisis

Marina Angelaki and Leandro Carrera, (2019), “Greece and Argentina show why pension reforms should not be used as a quick fix for a financial crisis”, LSE EUROPP, 1 March

Greece and Argentina both introduced radical pension reforms following the financial crisis. Drawing on recent research, Marina Angelaki and Leandro Carrera argue that while both countries lacked access to international financial markets and had unsustainable pension systems, the reforms have been short-sighted, ultimately undermining the adequacy and sustainability of pensions. A future overhaul of their systems looks unavoidable.

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