Who will pay the bills?

Look at this graph from the Economist.

Forget poor old Poland for a moment. What about Italy, Spain and Germany? Who will pay the eurozone's bills? 

Maybe those shrunken populations will be terribly rich and productive? Well, "Italy, the third-largest economy in the eurozone, has a per-capita G.D.P. that’s lower than it was at the end of the last century," says John Lanchester. It's 2016.

Say what you want about Mark Steyn (and please do - freedom of speech is one of his things) but you can't deny that he is thinking about demography.