Demographics and Debt
A simple remark here. Something that should be mentioned: The demography of most of southern Europe is terrifying. The fertility rate I remember being at 1.3 for more than a decade now. So you have an enormous amount of debt with a shrinking population. So it implies that if you want to service that debt with a shrinking population you will have another fall in the standard of living. There is no other possibility. And that's politically difficult to explain to the population. So the only way to get out is basically for the countries with the lousy demographics to repay their debt in a different currency, not in deutschemark but in lira.Charles Gave
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