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Q20. Elderly Germans. The table below (from Eurostat) shows the percentage of the population of each EU country which is expected to be 65+ years old at the beginning of each decade from 1960 to 2060. The largest number in each column is noted in bold. Note that Germany (DE) is expected to have the highest proportion of pensioners for the next 40 years or so. 1960 1970 1980 1990 2000 BE 2010 2020 12.0 13.3 2030 14.3 2040 2050 BG 14.8 16.8 2060 7.4 9.4 17.2 19.2 22.3 11.8 13.0 24.3 24.9 25.5 CZ 16.2 9.5 17.5 20.9 11.9 24.2 13.6 12.5 27.4 31.1 DK 13.8 10.5 15.2 32.7 19.6 12.2 14.3 22.0 15.6 24.8 28.7 30.7 DE 14.8 11.5 16.3 13.5 19.9 22.5 15.7 14.9 24.6 16.2 24.7 20.7 23.0 25.5 28.1 n.a. 11.7 12.5 11.6 31.7 32.3 15.0 32.8 17.1 11.1 11.1 19.1 10.7 22.3 11.4 24.8 27.7 11.2 30.5 n.a 11.3 14.4 n.a. 13.1 13.7 16.5 17.6 20.2 22.9 18.9 9.5 20.9 22.0 8.2 10.8 23.7 28.1 13.4 16.7 31.5 31.3 11.6 16.8 12.8 19.1 14.0 22.8 27.8 13.9 15.8 31.5 31.5 9.3 16.6 20.2 10.8 13.1 14.7 23.2 25.6 26.0 26.6 n.a 18.1 20.2 n.a. 22.3 25.5 n.a. 10.8 29.8 11.2 31.5 13.1 16.5 31.7 n.a 11.9 13.0 19.6 21.3 11.8 24.3 14.8 n.a 17.4 27.4 10.0 19.0 11.3 23.1 10.8 13.7 26.6 30.8 10.8 16.1 35.7 12.5 17.6 13.7 22.1 25.6 13.4 14.3 27.6 8.9 14.0 31.2 11.5 13.5 15.7 19.3 13.2 22.9 n.a 15.0 25.1 16.6 n.a 8.4 19.7 26.4 10.4 8.9 12.1 14.8 21.8 24.8 29.2 32.1 10.1 11.5 20.5 24 .2 12.8 25.0 13.6 27.6 15.3 31.0 12.1 14.0 15.5 19.7 24.1 27.0 14.9 26.9 27.2 5.8 8.2 15.4 10.2 17.6 19.8 10.0 24. 1 12.1 13.5 28.4 7 .8 9.2 17.9 22.5 27.6 29.1 11.2 13.2 16.0 17.9 25.1 30.3 34.5 n.a 8.5 10.3 20.6 24. 0 27.9 10.3 31.4 n.a. 13.2 14.9 n.a 17.4 20.2 32.0 n.a 10.6 13.9 25.4 30.8 9.1 16.5 19.8 34.8 6.8 10.6 24.2 10.3 11.4 27.5 30.6 7.2 12.3 31.6 9.0 16.1 11.9 20.5 24.1 13.3 29.6 11.7 14.8 17.0 33.5 13.6 22.1 16.2 25.0 17.8 11.7 17.3 25.5 26.0 18.1 27.0 12.9 20.6 14.9 22.3 15.7 24.0 15.8 24.5 26.3 8.0 8.8 16.4 9.8 18.7 21.2 23.2 10.6 23.4 11.6 24.5 7.8 12.0 7.8 15.8 19.4 8.8 20.5 20.2 10.0 20.3 10.9 10.5 13.5 12.8 14.7 19.3 25.7 30.0 30.0 CH 16.3 15.3 29.3 10.2 14.9 11.2 17.5 13.8 20.3 23.0 14.6 23.8 15.3 24.9 Average 9.6 16.8 11.0 12.5 19.4 12.9 23.6 14.5 16.0 19.1 27.1 29.0 22.6 30.4 25.6 27.8 29.3 Notes: 1960-2010: estimated values; 2020-2060: projected values; max value for each year in bold; n.a.: not available. The graph below (from FRED) shows the current account balance of Germany as compared to the Eurozone as a whole since 1997. Can you use the table above to help understand what is happening in the graph?FRED ~ - Total Current Account Balance for Germany Total Current Account Balance for the Euro Area@ 6 (Percent of GDP) w N O -1 -2 1998 2000 2002 2004 2006 2008 2010 2012 2014 research. stlouisfed.org