Europe’s economic woes could set off more riots, according to a leading insurance executive.
Clarisse Kopff, a board member at German insurer Munich Re, said lower rates of growth in Europe, when compared to the US and China, were triggering increased ‘social tensions’.
It comes as forecasts from the International Monetary Fund show Europe is set for meagre growth next year.
The UK is anticipated to post 1.3 per cent growth while France and Germany are predicted to record 0.9 per cent and 0.8 per cent respectively. By contrast, the US is set for 2.1 per cent, with China on course for 4.2 per cent.
‘This will put pressure on the purchasing power of European citizens,’ Kopff said at an insurance symposium in Germany, adding it could ‘fuel more riots, more civil commotions’.
Her remarks follow unrest in France, where up to a million people went on strike last month over taxes. French farmers also took to the streets to object to the proposed EU trade deal with Latin America.
Squeezed: Clarisse Kopff, a board member at German insurer Munich Re, said lower rates of growth in Europe, were already triggering increased ‘social tensions’
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