Future shocks: Building a European social model for the 21st century

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The European Union already has an outstanding level of social security compared to the rest of the world. While the EU constitutes less than 6 % of the world's population and 20 % of global gross domestic profit (GDP), it accounts for at least 40 % of global public spending on social protection. According to Eurostat, In the EU-27 in 2020, expenditure on social protection stood at 22.0 % of GDP, at 41.3 % of total global public spending and at €2 943 billion. While the European social model is undoubtedly a unique achievement, it has to be adapted to the challenges of the future to maintain its long-term sustainability
#FutureShocks2022 - Original publication on the EP Think Tank website
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