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To: GraceZ who wrote (17518)	2/18/2004 11:46:36 PM
From: GraceZ	Respond to of 306849

We're not the only ones who need to repeal the laws of arithmetic to retire: story.news.yahoo.com All three leaders emphasized the need for changes to make Europe more business-friendly and reduce unemployment — but also to uphold welfare-state comforts financed by a shrinking pool of working people as Europe's population ages. "We must change the social security systems we have built up in our countries," Schroeder said. "Only if we change them will we be able to keep them. Only if we change them will they be affordable." Schroeder has faced stiff resistance since he launched limited welfare-state reforms last year. Chirac, whose country has seen massive protests against cuts to pension benefits, echoed the German leader's remarks. "Reforms are necessary if we want to avoid seeing our system lead us to situations that would be totally dramatic in the 20 years to come," he said. "We must face — and we are well aware it — the aging of our populations." The three leaders offered few specific solutions but noted problems that have dogged Europe for years: too little spending on research and development, bureaucratic hurdles to launching businesses, widespread early retirement.