Chief Financial Correspondent, Italy, Milan
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May 29, 2014
May 28, 2014

South Europe’s families offer short-term fix to pensions crisis

MADRID/MILAN, May 28 (Reuters) – When Angel Gomez and Maria
Luisa Fernandez retired a decade ago, they imagined spending
their pensions largely on restaurant meals, holidays and toys
for the grandkids. Today, their retirement money helps to
support five families.

The Spanish couple, like other relatively prosperous
pensioners across southern Europe, are providing an informal
safety net which has helped many in the younger generation to
avoid widespread poverty despite record-high unemployment.

May 26, 2014
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    • About Lisa

      "I have been a correspondent for 13 years, reporting on banks, financial regulation and EU politics from London, Brussels, Zurich and Milan. I have also written about a variety of business sectors, general news, the arts and sport. As Chief Financial Correspondent for Italy, I keep a close eye on top Italian business stories, particularly Fiat and banking."
      Joined Reuters:
      English, Italian, French, German, Dutch, Spanish
      2010 Reuters Star Performer Award
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