In the Eurozone: Annual Inflation Slips to 2.6%
In February 2024, the euro area witnessed a decline in its annual inflation rate, dropping to 2.6% from January's 2.8%
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
In a speech at the European Parliament in Strasbourg on Wednesday, EU Commission President Jean-Claude Juncker, warned that the Schengen Area is ''partly comatose''.
Juncker added that an eventual collapse of the Schengen Area might have negative political consequences for the EU, including the Euro.
“A single currency makes no sense if Schengen fails” Juncker said. The Paris attacks and the long-lasting migrant crisis have had an impact on the Schengen Area.
The borderless area has come under pressure as several of the Paris attackers were able to travel throughout Europe after entering Greece pretending to be Syrian refugees.
Bringing back checkpoints at national borders between EU Member States, according to the Commission President, will have immediate consequences over the EU common currency.
“We have to safeguard the spirit behind Schengen,” said Juncker. “If the spirit leaves our hearts, we will lose more than that”. He also warned against equating terrorists with refugees.
His speech comes days after France introduced checkpoints at its borders as a result of the attacks in Paris on November 13, which claimed the lives of at least 130 people and left hundreds injured.
Temporary border controls have been reinforced in several EU member states in an attempt to divert the flow of migrants crossing the EU's southern border between Greece and Turkey.
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In February 2024, the euro area witnessed a decline in its annual inflation rate, dropping to 2.6% from January's 2.8%
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