An interesting info-graphic of the Euro currency experiment. One factor which does not make a point on this graphic is the south to north migration issue. If we examine the quote from Reuters it tell’s us the whole of East and Western Europe faces dealing with a reality that is taking place. This has to added to factors affecting the Euro.
Quite “Syria’s four-year civil war has so far displaced almost eight million people, said Peter Salama of UNICEF, the U.N. childrens’ agency, adding: “There could be millions and millions more refugees leaving Syria and ultimately (going) to the European Union and beyond.”
“So far this year, a record 433,000 refugees and migrants have crossed the Mediterranean to Europe, more than double the total for all of 2014, the International Organization for Migration (IOM) said on Friday.”
“The European Commission, backed by Germany and France, wants EU member states to accept mandatory quotas to share out some 160,000 refugees but the plan faces stiff resistance in some capitals. On Friday the UNHCR said the number of people requiring relocation had now risen to 200,000.”
Some countries like Britain have exercised their right to “opt-out” of taking displaced people. That may be all well and done but the migrants who are prepared to die to get to Britain aren’t listening. That will add pressure to an already set of struggling economies and a Euro under more pressure. Socially it means unrest. The biggest challenge will start this Northern winter.