EUOBSERVER / BRUSSELS - Rising public debt levels and Europe's ageing population have the potential to cause extensive problems in the future, said European Union finance ministers meeting in Brussels on Tuesday (5 May).

As the economic crisis pushes EU member state governments increasingly into the red, concerns are mounting over the region's ability to meet future pension payments.

Rising debt levels could make future pension payments more difficult for governments

"We not only have a financial crisis, but there is the challenge of our ageing population and the necessity to reform our pension systems and the systems of public health insurance," said Czech finance minister Miroslav Kalousek, whose country currently holds the EU's rotating presidency.

Talking to journalists after the meeting, economy commissioner Joaquin Almunia said he had received assurances from the Swedish government that dealing with the matter would be a top priority when they take over in July.