The Road to a European Transfer Union
In the decade since the 2008 global financial crisis and the subsequent euro crisis, European policymakers have consistently relied on Northern European countries to foot the bill for the rest of the eurozone. But what will happen in the coming decades when Northern baby boomers retire and the coffers run dry?
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MUNICH – Ten years after the Great Recession plumbed economic depths unseen since the Great Depression, it is necessary to step back from quotidian politics to get a glimpse of the bigger picture. Europeans need to ask themselves where they have been, and where they are headed next on their journey.