The welfare state system will have to be adapted to cope with these challenges if problems for future economic growth are to be avoided. As a general guideline, it may be said that a closer match in social security contributions along with a stronger personal contribution by the individuals concerned will improve economic efficiency and thus open up opportunities for growth. IV.
Despite the significant political achievements, like the Paris Agreement and the Kyoto Protocol, global policy action still falls short of what is required. The withdrawal of the USA from climate action is of course detrimental. The EU is leading the global effort also in this field.