Schengen collapse will wipe €28 billion from Europe's economies

EUROPE - Europe could see €28 billion wiped off the value of its economies as it faces the imminent collapse of the Schengen system of open borders, according to a leading investment bank.

Up to 0.2 percent of the European Union's GDP could be erased as a result of the spiralling costs of cross-border travel and disruption to internal trade that would return to post-Schengen Europe, Morgan Stanley warned. The bank's analysts estimate a 5 percent surge in the cost of cross-border travel, while trade flows between countries could fall by up to 20 percent due to border checks as waiting times are reintroduced to Europe.

Unlike the process of negotiating an EU exit for Britain, Morgan Stanley said a chaotic dismantling of the 30-year old passport-free zone would plunge the EU into political turmoil. "Contrary to the Brexit process, which would follow an orderly legal procedure if implemented, the risk surrounding a suspension of Schengen is that it could lead to disorderly political developments related to border controls, which in turn could cause a material hit to private-sector confidence", said Elga Bartsch, at Morgan Stanley.

"This uncertainty would likely lead to a material decline in investment spending, especially if the suspension of Schengen coincided with an exit of the UK."

“Just what is an APOSTLE?”
Just what is an Apostle?

Today we find the Church of God in a “wilderness of religious confusion!”

The confusion is not merely around the Church – within the religions of the world outside – but WITHIN the very heart of The True Church itself!

Read online or contact email to request a copy

Listen to Me, You who know righteousness, You people in whose heart is My Law: …I have put My words in your mouth, I have covered you with the shadow of My hand, That I may plant the heavens, Lay the foundations of the earth, and say to Zion, “you are My people” (Isaiah 51:7,16)