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It said most funds expected to reduce their deficits within 10 years, but 15 years may be more realistic.
With huge unfunded pension liabilities, European governments will struggle to keep their budget deficits within the limits they agreed to when they joined the euro.
In particular, he attacked the drive to reduce budget deficits within the eurozone as a self-defeating "Kafkaesque" absurdity, imposed by German Chancellor Angela Merkel.
They see how painful it will be to comply quickly with another rule of the euro-zone, the obligation to keep national budget deficits within 3% of GDP.
The commission will sue the 15 members of the European Union for voting to suspend rules that would have forced France and Germany to make deep budget cuts to bring their deficits within lawful limits.
José Manuel Barroso, president of the European commission, also signalled that governments would be given more leeway if they were struggling to get their budget deficits within the required ceiling of 3% of GDP.
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(DOCX 59 kb) Additional file 3: Potential deficits within-category correlation.
But Boston wiped out the deficit within minutes.
The old explanation for Euroscepticism was the alleged existence of a democratic deficit within the EU.
Straw said: "I am now clear that there is a major democratic deficit within the EU.
Along with another pension reform, this could help rein in the government deficit within the limits demanded by the European Union.
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