http://gcc.gnu.org/bugzilla/show_bug.cgi?id=60549
--- Comment #2 from Richard Biener <rguenth at gcc dot gnu.org> --- Indeed once such variables have their address taken (trivially happens in fortran) we have a hard time disambiguating them. You might want to try (the imperfect) -fipa-pta, even though that pessimizes code in some cases.
