Private sector shouldering the burden, industrialists say

The union of Greek industrialists (SEV) has painted a dire picture of the state of the Greek pension system, saying basically that it is running on empty, and that the country's beleaguered private sector has taken on a disproportionate share of the burden to support pensioners and the public sector.

Given Greece's low birth rates and rising life expectancy, the pension system is set to come under immense pressure in the coming decades. 

In its weekly report published on Thursday, SEV said that each private sector worker supports 2.8 people who are either unemployed or work in the public sector.

Moreover, just 43 percent of women and 14 percent of people aged between 15 and 24 have work, compared to respective average figures of 61 and 33 percent for the European Union's 28 member-states.

"Retired people are facing the future with increasing insecurity as...