March 20, 2015

LET THE BIDDING WARS COMMENCE:

Eurozone May Have to Boost Immigration to Avoid Growth Collapse (PAUL HANNON, 3/19/15, WSJ)
 
The eurozone may have little choice but to encourage higher levels of immigration if it is to avoid decades of very low economic growth that will leave it with high levels of debt, according to a paper published Friday by two Irish economists.

Kieran McQuinn at the Economic and Social Research Institute, and Karl Whelan at University College Dublin, estimate that without economic reforms, and with the eurozone's working age population continuing its post-2010 decline, annual economic growth will average just 0.6% over the coming decade, even if unemployment rates and investment spending return to their pre-crisis levels by 2020. And it gets worse--in subsequent decades, the eurozone economy would grow even more slowly, and by just 0.3% between 2044 and 2060.

On the positive side, Europe will have plenty of free empty housing to offer them.  Of course, our economy and demand for immigrants will be driven by the housing boom since we don't have enough for the ones we'll be trying to lure.

Posted by at March 20, 2015 6:19 PM
  

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