October 27, 2016

Unprecedented refugees flood into Europe could collapse of the euro

Refugees flood into Europe in unprecedented numbers could lead to the collapse of the euro, EU chief Jean-Claude Juncker warned today.

Mr Juncker, head of the European Commission, said Europe’s single currency will be jeopardised if its Schengen passport-free travel zone unravels due to countries reintroducing border controls to keep refugees out.

The 26-member Schengen zone has come under immense pressure since the summer as hundreds of thousands of migrants fleeing war and poverty in the Middle East and Africa stream across the continent in search of security in Europe.

Addressing the European Parliament in Strasbourg, Mr Juncker warned that allowing the Schengen system to erode would have political consequences for other European Union projects including the euro single currency.

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