Rather, if the U.S. fertility rate remains close to current levels and life expectancies continue to rise, as demographers generally expect, the U.S. population will continue to grow older, even after the baby-boom generation has passed from the scene.
Actually, the fact that Greek banks have been able to retain a very high share of their local market is also an indication that they have some comparative advantages that allow them to thrive in an internationally competitive environment. I must admit that our interest in the stability and growth of our neighbors is to some extent a reflection of selfish instincts.