Greece’s Finance Minister Kyriakos Pierrakakis called the demographic crisis in the country “existential” during his speech on the first day of the international CEPR RPN conference “Economics of Longevity and Ageing” held in Athens on June 17-18.
Pierrakakis said the shift in demographics was a “revolution of longevity” that would structurally affect the Greek economy, linking this fundamental change with the 4th industrial revolution.
He noted that based on current estimations, over half the children born today would reach 100 years old, adding that the core challenge was how to seize this opportunity of projected longevity and adapt economic policies accordingly.
The minister spoke about the emerging reality of a new life model due to the demographic crisis, noting that the traditional triad of education, work, and retirement is undergoing significant transformation.
“We are now in the era of reskilling. It’s increasingly likely that you will change careers once or even multiple times during your lifetime,” the minister observed.
“The post-war model—based on a lower life expectancy and stable lifelong employment—no longer meets the demands of modern society,” he said. “We have entered the era of reskilling. It’s now likely that people will change careers once or even multiple times during their lifetime.”
He argued that this shift affects “every policy area—how we understand and absorb the dynamics of our economy’s growth.” He cited examples such as education reform, including the establishment of non-profit, non-state universities, and efforts to boost international engagement.
Referencing Spain and Portugal, Pierrakakis emphasized that Greece can also develop a coherent national strategy.
The conference was organized by the Centre for Economic Policy Research–Research Policy Network on Ageing and Longevity, the OECD Centre on Population Dynamics in Crete, the Ellison Institute of Technology Oxford, and the Delphi Economic Forum.
