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Frank Field, the former Labour pensions minister, calls it a "mega-tragedy".
On labour, pensions are to suffer rapid cuts, minimum wages are to be reduced and collective bargaining is to be severely curtailed while it is to become easier to sack staff.
For the first time since the days of old Labour, pensions have recently been pegged to average earnings, which will sooner or later resume their inexorable rise, which has only been temporarily interrupted by the recession.
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As a result, Italy has started implementing labour, pension, and administrative reforms that were unthinkable in the past.
Labour's pensions spokesman Gregg McClymont welcomed the "flexibility" in the new system but voiced concerns the pensions industry was "finding it difficult to adapt so quickly to such a big change".
"The EU has hit home and is here to stay as a watchdog of budgets, labour markets, pensions etc.
The Communists want Mr Putin to heave overboard the liberal reformers who managed this summer to force controversial new laws on land, labour and pensions through parliament.
The party's fear was that Osborne would take the whole of Labour's pensions relief package set aside to fund the tuition fee cut, and then put all the money into the NHS.
It has a web of bilateral deals with Brussels though these may yet be torn apart by the Swiss referendum in February that rejected the free movement of workers.Above all, Switzerland has a successful currency union without the euro zone's onerous central edicts on everything from deficits to labour policy, pensions and investment.
Earlier, Labour's pensions spokesman, Gregg McClymont, told BBC Radio Scotland's Good Morning Scotland programme that "vague promises" had been made about the future, but the most difficult realities of an ageing Scottish society had not been faced.
Lula said then that in a second term his priority would be tax, political, labour and pension reforms.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com