Germany's Chancellor Merz:

Our current pay-as-you-go system has no future in an aging society. If we continue as before, pension levels will fall and contributions will continue to rise.

We all have to be honest with ourselves. As long as we haven't found the fountain of youth that we can all simply step into, we need — and I want — a major reform.

I want a solution. I want a solution that makes our pension system secure in the long term.