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The climate emergency a problem for debt sustainability. By the end of the century, EU risks losing 7 points of GDP

Food security, water crises, even premature deaths from excessive heat. With its extreme phenomena, climate change poses serious challenges to Europe and its member states, which will increasingly have to reckon with the economic price of global warming. The European Commission is already calculating how much has already been spent and how much, in anticipation, is likely to be spent. The communication to member states on climate change response contains an accounting and a warning: national budgets are in danger of finding themselves even more in disarray, and debt sustainability becomes an issue.[..]