Monday, May 9, 2016

WSJ: Migrant Crisis Threatens European Values

European Values
Of all the crises to hit Europe over the past years, the migration crisis remains the greatest threat to the survival of the European Union, says the Wall Street Journal. The arrival of more than a million migrants in 2015 provoked panic not so much because the numbers were in themselves unmanageable but because of fears that this was the tip of a very large iceberg. The EU may have managed to secure a degree of control over the numbers as arrivals have slowed to the low hundreds in recent weeks, but the sense of panic hasn’t gone away. Indeed, the threat to the EU’s survival may even be growing, for reasons that go beyond the immediate impact of migration and strike at the heart of the European project itself. Until now, this threat has largely been seen in terms of the possible collapse of the EU’s Schengen passport-free travel zone—an outcome that could have highly destabilizing economic and political consequences. The costs of increased border delays and new administrative burdens alone could lead to a 10%-20% collapse in intra-EU cross-border trade, the equivalent of imposing a 3% tax on the value of all cross-border goods and services trade, according to a European Commission
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by Breitbart London || Image Credit

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