Central Bank governor says retirement age must go up to maintain living standards

Gabriel Makhlouf was addressing Organisation for Economic Cooperation and Development in Paris

Mr Makhlouf addressed the OECD in Paris on Monday on the subjectof labour dynamics, and how demographics, migration, and technology will reshape Europe’s workforce. Picture: Eamonn Farrell /  RollingNews.ie

The governor of the Central Bank Gabriel Makhlouf has told the Organisation for Economic Cooperation and Development (OECD) that the retirement age will need to go up to sustain current living standards.

Mr Makhlouf addressed the OECD in Paris on Monday on the subjectof labour dynamics, and how demographics, migration, and technology will reshape Europe’s workforce. Mr Makhlouf said in the face of unprecedented shocks in recent years, the Euro area labour market has held up exceptionally well but that looking ahead, some labour market cooling is expected.