Ditching Schengen over migrant crisis may cost Europe €18bn

Ditching Schengen over migrant crisis may cost Europe €18bn

The European Commission says going back to internal border controls on a long-term basis is likely to cost €18 billion. This is just the direct cost and excludes possible secondary effects.

“If a process is set in motion putting at risk the depth of economic integration, including the proper functioning of economic and monetary union, the medium-term indirect costs may be dramatically higher than direct estimates,” the Commission said.

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