No matter how the deficits in these countries, including ours, are resolved, seniors will suffer. Either their defined benefits will be cut to cut the deficit and achieve a balanced budget, or some countries will inflate away their debts, but keep the payments the same, therefore cutting the purchasing power of the benefit.
That's my expectation for what will happen here.
This is what happens when government replaces family, church, and community. Italy has one of the lowest birth rates of any nation, so there will be no one to take care of the aging population. Socialism destroys the social contract that held generations together.