"By the middle of this century, Europe’s population will be smaller and older, and the coming drop in our numbers is so dramatic that not even the arrival of more immigrants, currently running at 1.3m a year, will do more than partially offset the ageing trend ... Europe’s ageing population poses a significant threat to the sustainability of public finances in most EU countries. But while the budgetary risks are well understood, less attention has been paid to ageing’s economic impact." (Quoted from article)