[inglor_cz]

Pay-as-you-go pension system is even worse equipped to deal with the aging situation than others.

The European social democratic model introduced after war relied a lot on having a lot of working age people supporting relatively small cohorts of the elderly. It was a working assumption - before birth control, few could imagine how deeply would fertility collapse.

The German chancellor Adenauer assured the Bundestag that "Leute haben Kinder immer" = people will always have children.

No, not always, no.