World
Brussels sounds alarm about EU’s rapidly ageing population
The European Union’s rapidly ageing population threatens to undermine the bloc’s competitiveness, exacerbate labour shortages, inflate public budgets and deepen regional inequalities.
These are some of the disquieting findings from a new report on demographic change released by the European Commission on Wednesday, which paints an alarming picture of the profound societal and economic transformation triggered by a shrinking workforce.
In short, the EU is getting too old too fast.
“Each member state is dealing with its own challenges,” said Dubravka Šuica, the Commission’s vice president in charge of democracy and demography.
“In the Netherlands, housing and population density are a key challenge, while in some regions of Spain, it is population decline. In Italy, the key challenge is declining birth rates and an ageing population. Greece is the member state with the fastest ageing population. Croatia struggles with brain drain of younger persons.”
According to the report, the EU’s population, which was slightly over 448 million people earlier this year, is projected to reach its peak around 2026 and then gradually decrease, losing 57.4 million working-age people by 2100. More worryingly, the bloc’s dependency ratio — the ratio of the number of elderly people compared to the number of people of working age — will surge from 33% today to 60% by the end of the century.
The drastic shift in the demographic pyramid will upend the labour market, with widespread shortages that could inhibit growth, productivity and innovation rates, and therefore accelerate loss of competitiveness vis-à-vis other major economies.
A dwindling workforce will inevitably reduce revenue for state coffers while piling additional pressure on public budgets to spend more on healthcare and pensions, an explosive combination that could divert attention away from the much-needed investments in renewable energy and cutting-edge technologies.
This, in return, will undercut social cohesion, Šuica said, and “in the end, the trust in democratic institutions and processes in Europe.”
Before the damage becomes irreversible, the Commission recommends member states take decisive action, such as closing the gender pay gap, improving work-life balance, offering tax benefits, reducing childcare costs, and making it easier for young people to access quality jobs and affordable housing earlier in their adult lives.
Brussels also says it is “crucial to empower older workers to remain active for longer” through upskilling programmes and flexible working hours, and urges businesses to overcome “preconceived notions and stereotypes” about the elderly.
“Longer lives create new opportunities and usher in a shift from an ageing society to a longevity society,” Šuica said, calling on countries to tap into the new economic opportunities created by the so-called “silver economy.”
In another recommendation, the report calls for “managed legal migration” to fill the surging number of job vacancies, which are already at record highs.
The bloc, which is in the midst of a hard-fought push to reform its asylum policy, received last year 3 million migrant workers via legal pathways compared to 300,000 who arrived through irregular means.
During the presentation, Šuica underlined several times that, while legal migration was a valuable option to address the demographic challenge, it was not the only one, a clarification that appeared designed to avoid the wrath of hard-right governments that have espoused pro-natality policies in a bid to boost the birth rate of local population without relying on migration flows.
“We are 27 democracies,” Šuica said. “It’s a different situation and this is the reason why we say that there is no one size fits all.”
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World leaders, US politicians react to Israel-Hamas cease-fire deal: 'Long-overdue news'
Leaders in the U.S. and around the world commended the recent Israel-Hamas cease-fire deal on Wednesday.
Biden announced the terms of the cease-fire during a news conference Wednesday at the White House. It will consist of two phases and will take place over the next several weeks.
The first phase, which is set to begin Sunday, “includes a full and complete cease-fire, withdrawal of Israeli forces from all the populated areas of Gaza, and the release of a number of hostages held by Hamas, including women and elderly and the wounded,” Biden said.
The second phase is contingent on Israel negotiating “the necessary arrangements,” to mark a complete end to the war.
BIDEN BALKS WHEN ASKED IF TRUMP DESERVES CREDIT FOR ISRAEL-HAMAS CEASE-FIRE DEAL: ‘IS THAT A JOKE?’
The response to the deal was overwhelmingly positive. New York Gov. Kathy Hochul said that she was “very encouraged” to see the cease-fire come to fruition.
“This is something I’ve called for many, many months over the last year since the horrific, barbaric attack on innocent civilians in Israel that occurred on October 7 of last year,” Hochul said. “My main priority has been bringing home the hostages.”
Rep. Ritchie Torres, D-N.Y., wrote on X that he felt “an indescribable sense of relief,” about the return of the hostages.
“The return of the hostages will mark the beginning of closure for Israelis and Jews, as well as countless others, who continue to be deeply affected by the indelible terror and trauma of October 7th,” Torres wrote. “The hostages have been brought home by the power of the world’s most powerful friendship – the US-Israel relationship.”
The deal also attracted international attention. In a statement, British Prime Minister Kier Starmer called the cease-fire “long-overdue news.”
FOX NEWS GETS AN INSIDE LOOK AT IDF’S WAR AGAINST HAMAS
“[The Israeli and Palestinian people] have borne the brunt of this conflict – triggered by the brutal terrorists of Hamas, who committed the deadliest massacre of Jewish people since the Holocaust on October 7th, 2023,” Starmer said. “The hostages, who were brutally ripped from their homes on that day and held captive in unimaginable conditions ever since, can now finally return to their families.
“But we should also use this moment to pay tribute to those who won’t make it home – including the British people who were murdered by Hamas. We will continue to mourn and remember them. “
In an X post translated from French to English, French President Emmanuel Macron said that the cease-fire must be respected.
“After 15 months of unjustifiable ordeal, immense relief for the Gazans, hope for the hostages and their families,” Macron said. He also referenced Ohad Yahalomi and Ofer Calderon, two French-Israeli hostages.
Though many are celebrating, some have expressed caution about the possibility of the deal falling through.
On Wednesday, White House national security communications adviser John Kirby said that the “big hurdle” — which included finalizing the deal — had been “overcome.”
Hopefully, come this weekend, we’ll start to see some families reunited,” Kirby said, adding that he was “confident” that the deal will be implemented, despite hard work ahead.
Fox News Digital’s Joshua Comins contributed to this report.
World
Biden takes aim at oligarchs and extreme wealth in farewell address
US President Joe Biden said ‘powerful forces’ threatened to undo his climate policies as Trump prepares to take office.
United States President Joe Biden has used his final formal address as president to warn of the dangers of “oligarchy” and “extreme wealth” to democracy, as President-elect Donald Trump prepares to begin his second term with an administration stacked with billionaires.
“Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead,” Biden said in the televised address from the Oval Office in the White House on Wednesday night.
Biden’s speech comes five days before Trump’s inauguration on January 20 and mere hours after Israel and Hamas announced they had agreed to a ceasefire in Gaza, an outcome that appeared to evade the Biden administration for months despite widespread opposition to the war among many Americans.
In his speech, Biden warned of “a dangerous concentration of power in the hands of a few ultra-wealthy people” and “dangerous consequences if their abuse of power is left unchecked”.
President-elect Trump’s incoming administration has at least 11 billionaires holding official positions, according to the Democratic Party. They include the world’s richest man, billionaire Elon Musk, who Trump has said will co-lead the so-called Department of Government Efficiency.
Biden also warned that “powerful forces” threatened to undo his climate achievements, as unprecedented wildfires burn in Los Angeles, the second-largest city in the US.
Biden began his speech by briefly referring to the newly announced ceasefire deal between Israel and Hamas in the Gaza Strip, which Israeli Prime Minister Benjamin Netanyahu has partly attributed to Trump.
“After eight months of nonstop negotiation by my administration, a ceasefire and a hostage deal has been reached by Israel and Hamas,” Biden said.
Biden added that while his team had negotiated the deal, he had told them to keep the “incoming administration fully informed” since it would be “largely implemented” by them.
While claiming the ceasefire as an achievement of his presidency, many voters in the 2024 presidential elections said they were unable to support the Democratic Party due to Biden’s dogged support for Israel’s war on the Gaza Strip.
Biden, 82, dropped out of contention for a second term in office after voters and his own party raised concerns over this performance in the first presidential election debate against then-Republican candidate Donald Trump, with Biden’s vice president, Kamala Harris, going on to contest the presidency and then losing to Trump.
Biden has used his final days in office to introduce a sweeping ban on offshore oil and natural gas drilling covering more than 625 million acres (253 million hectares) including the “entire US East Coast, the eastern Gulf of Mexico” and parts of the “Northern Bering Sea in Alaska”.
This has been seen as an apparent move to preempt Trump’s promise to “drill, baby drill” for oil “on day one” of his second term.
Biden said in his farewell address that “it will take time to feel the impact of all we’ve done together, but the seeds are planted, and they’ll grow, and they’ll bloom for decades to come”.
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