The shift from high to low levels of fertility and mortality has been explained through the different stages in the demographic transition theory. The modern transition theory is explained in four stages. In Stage I, the birth rate was very high and average longevity of life was short; therefore, population growth was relatively slow and the population was fairly young.
This is also one of the reasons why, almost one year ago, the Five Presidents’ Report set out a plan for strengthening Europe’s Economic and Monetary Union (EMU). Conclusions Allow me to conclude. Looking ahead, we expect the economic recovery to proceed at a moderate but steady pace.