Demographic crisis existential issue for Greece, says Cabinet minister

​​​​​​​ATHENS

The demographic crisis is an existential issue for Greece, the country’s finance minister stressed Tuesday.

Kyriakos Pierrakakis, speaking at an Athens conference on the economics of longevity and aging, said the demographic shift is a "revolution of longevity" that will fundamentally affect the country's economy, linking the significant shift to the fourth industrial revolution, according to the daily To Vima.

Drawing attention to the emergence of a new life model owing to the demographic crisis, he underlined 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,” Pierrakakis said.

“The post-WWII model, based on a lower life expectancy and stable lifelong employment, no longer meets the demands of modern society,” he added.