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I'm John Batchel with Lorenzo Fiore, my colleague and friend, reporting on Italy in the news, always.

And right now, Italy is one of the founding members of the European Union is witnessing the compare and contrast of pensions for the EU members, especially the big four.

Well, it used to be the big four.

Now it's the big three.

That's Germany, Italy, and France.

Europe used to include Britain, but no more.

And in any event, I learned from the F.T.

Italy has the highest European Union pension costs at 15% of the GDP,

this according to the European Commission.

And that might not be sustainable.

So there are changes afoot.

Lorenzo, a very good evening to you.

There are enough young people now to pay for those retiring, but that will not always be the case. So what is the change that you're going to, in some fashion, control the

costs of pension? Good evening to you. Good evening, John, and good evening to all the radio

listener. Well, you did say correct that Italy has the highest cost of its pension scheme. But let me tell you that right now in the European scenario, the pension scheme situation in Italy is more stable than in the other country for two reasons.

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