Whenever anyone of us visits a developed country, we are taken aback by how much government cares for people...It seems that European nations have to change the way these countries approach social security. There are two fundamental reasons:
1) Change in demography - aging population more than working populations
2) Government revenue < Government Expenditures - The governments are living out of their pockets and mostly on debt. The financial crisis of 2008 forced governments to extend more sops to stay afloat.
Slowly, it has become difficult to sustain government expenditure. Had European governments courage and will power, they would talk about India where the government doesn't provide any relief on ground (social security practically, there are many schemes running on paper and in registers of various district collectors) but charges income tax moment you start earning.
European finance leaders are claiming they will do whatever required to save Euro. However, a small correction, the ball lies in court of political leadership to dictate the changes and make people aware of ground realities. It is a messy thing and it will take time for people to understand that they do not live in rich nations anymore.
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