Europe accounts for half the world's social spending — and can no longer pay for it
Europe has been living beyond its means. Now the bills are due
Protests over education funding, housing and rising prices have swept France, Germany, Spain and Italy this autumn. The Economist argues the deeper problem is structural: Europeans demand public spending they can no longer afford, while fragmented parliaments and populist politics make cuts nearly impossible. Europe accounts for half the world's social spending, yet its fractured politics block the reforms the bills now demand.
Many Europeans want levels of public spending they can no longer afford while fragmented parliaments and populist politics make it almost impossible to fix the problems.