I attended a lecture and book luanch this evening by Gavin Hewitt, BBC Editor for Europe, who has taken time oit to write a tome of contemporary history on the elite proceedings during the current crisis of the €. Hewitt set the stage with some thoughts on the emasculation of leaders, the gradual growth of fears over unemployment and the erosion of an adherence to austerity.
Hewitt was honest in navigating between positions and showing how some criticisms are shared by both Europhiles and Eurosceptics. The problem is that their answers are different.
Yet, the talk omitted demographics. The depressed Mediterranean is suffering from a declining population with birthrates nowhere near replacement level. A crisis of economic growth was due to hit at some point. Yet, the crisis may have brought the effects of the demographic trap forward by encouraging emigration and creating a structural problem of youth unemployment. This would have crept up on the countries sometime within the next decade. Now that demographic death rattle can be heard within the Eurozone as a depressed depopulated desert becomes one outcome.