The older generation benefited from decades of rock-solid job protection, union-guaranteed salary increases and the promise of a comfortable retirement. All this has allowed them to weather Europes longest postwar crisis reasonably well.
By contrast, many younger Europeans can hope for little more than poorly paid, short-term contracts that often open a lifelong earnings gap they may never close. Employers in many countries are reluctant to hire on permanent contracts because of rigid labor rules and sky-high payroll taxes that go to funding the huge pension bill of their parents.
The wages of fairness.