- EU ON THE BRINK: Brussels Risks Collapse – Bloc ‘Not Solid Enough’ to Avert Future Crisis
by JOE BARNES, BRUSSELS CORRESPONDENT, https://www.express.co.uk/
THE European Union risks collapse under the weight of any future significant challenges because it is not strong enough, according to an unpublished report by the European Fiscal Board.
Ageing populations and high government debts are a growing problem for Brussels which is still “not solid enough” to deal with another potential financial crisis, according to the paper which was presented to the European Commission’s leaders on Tuesday.
The independent advisory body’s chairman, Niels Thygesen, said it is time the EU pursues a more restrictive fiscal approach despite an upturn in the bloc’s finances. The EFB’s report reads: “Although fiscal positions have improved, they are currently not solid enough to withstand future challenges, that is, to absorb future downturns and the budgetary costs of ageing populations.