GERMANY - Germany faces a massive e9bn shortfall in it public pension funds by the end of the year, wrote the Financial Times Deutschland (FTD), citing a leaked memo from the Federation of German Pension Insurance Institutes (VDR).
FTD suggested that this figure could be even higher. The news report explained that this means that pension payments will either have to be cut by around 1% in 2004 or employee and employer pensio...
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