We're not sure exactly what Welfare Minister Elsa Fornero is saying, but obviously announcing reforms to pension systems is an emotional subject, as it means more pain for seniors on fixed incomes. (via Hugo Dixon).

A commenter translates part of her statement: "I'm sorry. The people who work have no more money to give you. As a result, the pension age will go to 62 years old for woman, and 65 years old for man. No longer can we afford to give you a raise every year for inflation of prices, so you will not get this."

.