Defined-contribution plans reduce, but do not eliminate, risks for employers. 2 Because of market risk, this type of plan can fall short of the goal of ensuring adequate retirement income for all employees. The retirement incomes of two people with identical work histories can differ greatly, if they retire at separate times when the prevailing market conditions are very different.
And, after an unprecedented logistical operation, at the end of February at the latest, 12 national currencies will have disappeared for good. At that moment, monetary union will have been achieved completely. *  *  *  To my mind, the implementation of monetary union in Europe can be explained by a series of long term structural factors.