Think the US has a problem with Social Security and Medicare?  Greece will face a dramatic overhaul of it's retirement system.   Analyst's point out the US may face these same changes.

The reforms seek to prevent early retirement. Currently the average age of retirement in Greece is 61, though it is not uncommon for public sector workers to retire in their 50s.

Under the planned changes, the retirement age, which is currently 65 years for men and 60 years for women, will be linked to average life expectancy.

In addition, the minimum number of years someone will have had to have worked to qualify for a full pension will rise to 40 years from 37.

Pensions will also be reduced so that they reflect a worker's average working pay rather than their final salary.