banking on demography presentation for the challenges of demographics program 2003 stefan schneider karin gruber frankfurt june 17 seite 2 g6c number & structure g2d fertility motality migration society politics culture values infrastructure legal system education communication transport social security systems interest groups technology biotech ageing support real economy labour market productivity growth per capita income sectors financial markets saving patterns propensity to international capital flows yields environment resources pollution climate source based birg h die weltbevölkerung 1996 3 outline consequences aging business 4 impact g6e baby boomers retirement from 2010 shrinking workforce age and reduction potential output change in regional differences 5 traveling through retiring europe us japan post war will retire onwards