Brussels, 16/12/2003 (Agence Europe) - A new study commissioned by the European Commission's Directorate General 'Economic and Financial Affairs' on the theme 'Ageing population and public finance targets' (ISBN 92-894-6891-2), examines alternative measures allowing for the analysis of the long-term viability of pension systems in an environment where the population is increasingly ageing. The study presents a method for the transformation of long-term projections in terms of public spending into balanced medium-term budgetary targets. The study first notes the measures already in place and their implications: the forecasts in terms of demography prove that the aged population ceaselessly increases, which has consequences on public finances. The study integrates considerations of loyalty between generations (based on fertility and the longevity of successive generations), which leads to a gradual adjustment of budgetary parameters. (The document is available, in English, on the website: http: //europa.eu.int/comm/economy_finance/publications/ ECONOMIC_papers /economicpapers196_en.htm).