Europe’s economic prospects are worsening as the region struggles to absorb the wave of asylum seekers coming from the Middle East, according to Angus Deaton, the winner of this year’s Nobel economics prize.
Though Europe’s debt and migrant crises are similar in scope, the demographic challenges posed by the sudden influx of people is potentially worse because “no one really has any idea how to solve” the situation,
Deaton said. At least with the debt crisis, “people knew how to solve it,” they just “couldn’t agree with each other,” he said.
Read more; Nobel Laureate Sees ‘Much Worse’ EU Economy From Refugee Crisis - Bloomberg Business
Though Europe’s debt and migrant crises are similar in scope, the demographic challenges posed by the sudden influx of people is potentially worse because “no one really has any idea how to solve” the situation,
Deaton said. At least with the debt crisis, “people knew how to solve it,” they just “couldn’t agree with each other,” he said.
Read more; Nobel Laureate Sees ‘Much Worse’ EU Economy From Refugee Crisis - Bloomberg Business
